In letter to employees, Samsung Electronics CEO cites ‘unprecedented crisis’
Kwon Oh-hyun, the CEO of Korean technology giant Samsung Electronics, yesterday informed employees that he would resign from the company, according to published reports. This move comes in the aftermath of his boss, Jay Y. Lee, being jailed by authorities on a variety of charges including bribing the former president of the country.
In a letter to employees, Oh-hyun wrote that his decision “is something I had been thinking long and hard about for quite some time. It has not been an easy decision, but I feel I can no longer put it off. As we are confronted with unprecedented crisis inside out, I believe that time has now come for the company start anew, with a new spirit and young leadership to better respond to challenges arising from the rapidly changing IT industry.”
He continued: “There are no words to describe how proud I am that we built together one of the most valuable companies in the world. We have come a long way to create a company that truly changes how people live, work and communicate with each other. But now the company needs a new leader more than ever and it is time for me to move to the next chapter of my life.”
