Despite encouraging sales figures and positive reviews on new products, Samsung CEO Kwon Oh-hyun has announced his resignation following nearly five years as second-in-command of the company.

Kwon Oh-hyun will relinquish his roles as Samsung Electronics’ CEO, vice chairman, and the head of its components business.

The following is a quote from a letter Oh-hyun sent to employees:

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.

The “unprecedented crisis” likely refers to Jay Y Lee, the heir of the Samsung empire, being recently sentenced to five years in prison for bribery and perjury after he was found guilty of overseeing payments to foundations run by South Korea’s former president.

Oh-hyun is expected to leave all roles by March of next year after nearly 32 years with the company. No replacement has been named yet.

Source: The Verge

  • Rowan09

    Just to add to start a conspiracy theory. I heard Oh-hyun used the iPhone X and that’s what he was talking about with “unprecedented crisis”. After he picked up the phone and facial recognition worked right away, he knew at that point things were done. Samsung stock will definitely take a hit for this one.

    • Satyam Panchal

      what unprecedented crisis means ? i dont know english well.

      • Rowan09

        Something very bad

      • M_Hawke

        A bad situation that has never happened before. Or, a situation that has never happened that is as bad as this.

    • ericesque

      I know you’re joking, but FaceID would be the second least interesting feature of the iPhone X if its new edge-to-edge OLED screen DIDN’T have a notch in it.

      • Rowan09

        Samsung makes the screen so your wrong. There’s a reason 3D facial recognition being worked on by everyone now.

      • ericesque

        “Samsung makes the screen so your [sic] wrong.” That statement makes no sense on so many levels. Apple designed it. It’s categorically and offensively bad design. Samsung has nothing to do with why it’s good or bad.

        Everyone has been working on facial and/or iris scanning for rather a long time. The reason they’re working on it is because that’s what they were already doing.

      • Rowan09

        Samsung supplies a couple of parts that Apple doesn’t design and that’s not the point.

        Everyone has been working on facial recognition and no one but Apple on a mobile phone has 3D scanning. There’s a reason the chip hasn’t even been developed to achieve this with Android.

  • Satyam Panchal

    this year is worst

  • The Zlatan

    Oh-no…

  • racerhomie

    He used the iPhone X. Thats why.