Samsung co-CEO Jong-Hee Han dead at 63 from heart – Business News
Samsung Electronics co-CEO Jong-Hee Han died from a heart assault on Tuesday at age 63, the company confirmed.
Han, who took over as CEO and vice chairman in 2022 and oversaw the company’s shopper electronics and smartphone divisions, died after being handled for cardiac arrest at a hospital, the company stated.
“Our deepest condolences are with his family and loved ones during this difficult time,” Samsung stated.
Jong-Hee Han died from a heart assault. YONHAP/AFP through Getty Images
Young-Hyun Jun, who heads up Samsung’s pc chip and elements division, will function the company’s sole CEO following Han’s death, the company stated in a regulatory submitting.
Shares of Samsung have been down barely on South Korea’s stock (*63*) following the announcement.
The tech giant has struggled to keep tempo with key rivals in pc chip development in current quarters because the sector makes huge investments in artificial intelligence. Key rival Apple additionally handed Samsung and have become the world’s prime vendor of smartphones in January.
Overall, Samsung’s stock has fallen more than 20% over the past 12 months.
Han had apologized for Samsung’s current hunch during the shareholder assembly final week. He additionally vowed that Samsung would adapt to any challenges posed by President Trump’s tariff plans.
Jong-Hee Han had labored at Samsung since 1988. Getty Images
“First and foremost, I sincerely apologize for the recent stock performance not meeting your expectations. Over the past year, our company failed to adequately respond to the rapidly evolving AI semiconductor market,” Han stated at the time.
A longtime Samsung government, Han had labored at the company since 1988 and was extensively credited with serving to flip the South Korea-based firm into the world’s prime TV producer.
In April 2024, Samsung stated it might double its investment in Texas to $44 billion whereas building out new chip manufacturing capabilities within the state.
With Post wires
