• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

Mobile ID World

Mobile ID World

Identification Revolution

  • Mobile ID
    • What Is Mobile ID?
    • Identity Associations
    • Premier Partners
    • FAQ
  • News
  • Solutions
    • Behavioral
    • Facial Recognition
    • Fingerprint Biometrics
    • Iris Biometrics
    • Second Factor
    • Smart Cards
    • Smartphones
    • Vital
    • Voice
    • Wearable Tech
    • Other
  • Applications
    • Access Control
    • Cloud Technology
    • Commerce
    • Enterprise
    • Healthcare
    • Identification
    • Internet of Things
    • Law Enforcement
    • Strong Online Authentication
  • Exclusive
    • Interviews
    • Featured Articles
    • Podcasts
  • Companies
  • Events

Samsung CEO Announces Surprise Resignation Amid Profits, Growth

October 13, 2017

Samsung Electronics’ CEO has announced his surprise resignation from the company.Samsung CEO Announces Surprise Resignation Amid Profits, Growth Oh-Hyun Kwon will leave not only that post but also his positions as CEO of Samsung Display, head of the company’s components arm, and Vice Chairman.

The move comes just as Samsung has announced record profits, thanks largely to its memory chip business, prompting one industry analysts to describe its timing as “nonsensical“. But in his resignation letter Kwon explained that because Samsung is facing “unprecedented crisis inside out,” the time has come for the company to “start anew, with a new spirit and young leadership”.

The “crisis” alluded to in the letter has largely been read as a reference to the imprisonment of Samsung’s de facto leader Lee Jae-yong on bribery and corruption charges. But it could also encompass Samsung’s recall fiasco with the Note7 smartphone last year, with the flagship smartphone having to be pulled off of market shelves due to a fire hazard with its charging mechanism.

In any case, Samsung appears to have re-established some pretty solid footing this year, becoming a pioneer in mobile biometrics technology with the iris scanning capabilities of its award-winning Galaxy S8 devices and the newly-released Note 8 smartphone. Its major investments into sophisticated AI and smart car technologies, meanwhile, suggest a sense of momentum and anticipated growth. But the company’s CEO nevertheless appears to believe it’s best that the company move forward without him.

Sources: Samsung, The Verge, Business News Network

Filed Under: Featured, Industry News

Related News & Articles

BioCatch Wins “Best Innovation in Securing Transactions” at Florin Awards

Teen Gig Work App Partners with AU10TIX for Selfie Authentication

FaceTec Announces $30,000 Biometric Spoof Bounty

Primary Sidebar

Register For the Next Virtual Identity Summit

Register now!

Tweets

Sponsored Links

FACEPHI is a global leader in Facial Recognition technology and in Mobile Biometrics technologies. With a strong concentration in the financial sector, FacePhi's product is rapidly becoming a service used by banks all over the world. Its implementation doesn’t just save money, it is also a way to attract clients and build loyalty, while increasing the security of transactions for both the customer and the business. To learn more about FacePhi, visit https://www.facephi.com/en/

Recent Posts

  • Amid Political Unease, Tunisia Launches Mobile ID Pilot
  • Colombia Pushes LATAM Partners to Accept Mobile ID at the Border
  • Onfido Explains How UK Privacy Bill Is ‘Positive Step’ In Global Patchwork
  • Greek Ministry of Digital Governance Delivers On Mobile ID Promise
  • Poll Results Show Android Users’ Surprising Biometric Preferences

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2022 MobileIDWorld