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What just happened? Samsung Electronics has announced that its co-CEO, Han Jong-Hee, has passed away. Han died from cardiac arrest this week, aged 63. His passing leaves Jun Young-hyun, who was appointed co-CEO last week, solely in charge of the company.
According to local reports, Han suffered a heart attack on March 22, not long after attending his daughter’s wedding at a banquet hall. He was taken to Samsung Medical Center in Seoul but died on Tuesday.
Born in 1962, Han graduated from Inha University with a bachelor’s degree in electronic engineering. He joined Samsung in 1988, spending much of his career in the company’s TV divisions.
Han rose to the head of Samsung’s Visual Display Business in 2017 before being made CEO of the newly formed DX division – the result of a merger between the Consumer Electronics (CE) and IT & Mobile (IM) business units – in 2021. Han became CEO and Vice Chairman of Samsung Electronics in 2022.
Samsung credited Han with helping the company become a global leader in the TV market and for contributing to the company’s growth as an executive during a challenging business environment. It added that Han was central in rolling out Samsung’s LED TVs.
Jun Young-hyun was appointed co-CEO of the company last week at its annual shareholders meeting. It was hosted by Han, who had apologized for the poor performance of Samsung stock, which he blamed on the company’s failure to respond to the artificial intelligence semiconductor market. He also warned that 2025 would be a difficult year due to the uncertainties around the economic policies of major economies, according to Reuters.
Samsung said in a stock exchange filing that Jun, who was promoted to head of Samsung’s semiconductor division in 2024, would be the sole CEO of the company after Han’s death.
Samsung has been falling behind several competitors in recent times. It has seen its market share and profits dwindle in the TV, smartphones, and DRAM markets, while its semiconductor business is falling further behind TSMC.
Samsung is scheduled to hold a launch event for new home appliances on Wednesday, which Han had been expected to attend. The company could announce succession plans during the show.
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