Samsung makes fewest executive promotions in six years

Samsung Group on Thursday announced its annual reshuffle, promoting 353 executives.

The number of the promotions ― down from 476 in last year’s reshuffle and the lowest since 2008 ― signaled the conglomerate’s drive to streamline some of its oversized businesses including its sluggish mobile business wing, according to industry officials.

“Samsung, as usual, rewarded those who had achieved great performance this year, and tried to keep the growth momentum by promoting executives in a wider range of fields to include women and foreign nationals,” the conglomerate said in a press release.

Of the 353, a total of 42 executives were made executive vice presidents, 58 became senior vice presidents, and 253 vice presidents.

Reflecting Samsung’s performance-oriented policies, the number of promotions at the memory chip business unit increased from 20 in the 2013 reshuffle to 22 this year.

Samsung topped the world’s DRAM market with a 41 percent market share in the third quarter this year, and also leads the vertical NAND flash memory sector.

The nation’s top conglomerate added 13 new female vice presidents. The number of the women executives now stands at a record high of 58.

“These female executives come from various fields spanning technology, design, marketing and more,” said a Samsung official.

At the group’s flagship business Samsung Electronics, Ha Hye-sung, former vice president of the IT product strategy team, was promoted to senior vice president.

At Samsung’s global offices, a total of nine foreign executives were included on the list of the promotions. 

David Steel, former senior vice president at the strategic marketing team of Samsung Electronics in North America, became the third foreign executive vice president following Tim Baxter and Wang Tong, who were promoted to the same rank in 2012 and 2013 respectively.

Steel will take charge of corporate public relations in North America.

Pranav Mistry, a 33-year-old researcher who is credited with the development of the Samsung Galaxy Gear smart watch, and Dave Das, a 39-year-old sales expert who received credit for Samsung’s sales growth in the U.S. TV market this year, were among those who were promoted to senior vice president.

By Kim Young-won (wone0102@heraldcorp.com)