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(Seoul=Yonhap Infomax) Su Jin Yoo = Samsung is set to announce a major executive reshuffle, with expectations that the regular appointments could be unveiled as early as the 21st or early next week.
According to industry sources on the 20th, Samsung Electronics Co., South Korea's largest company by market value, began notifying some executives of their retirement starting this morning.
Similar retirement notifications and interviews are reportedly underway at other Samsung affiliates as well.
This process is a customary step ahead of the annual executive reshuffle and is widely seen as a signal that the announcement is imminent.
Following the executive reshuffle, subsequent appointments for other management positions are expected to follow.
Last year, the executive reshuffle took place at the end of November. This year, market observers anticipate the announcement could come several days earlier than usual.
Earlier, on the 7th, Samsung Electronics formalized its Business Support Task Force (TF) into a permanent Business Support Office, appointing President Park Hak-kyu as its head.
Jung Hyun-ho, previously known as Samsung's "number two," has stepped back from frontline management.
Market attention is focused on whether there will be any new vice chairman appointments in this reshuffle, and whether a new head will be named for the Memory Business Division, a role currently held concurrently by Jeon Young-hyun, Vice Chairman and head of the Device Solutions (DS) division.
sjyoo@yna.co.kr
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