Samsung Electronics has announced the sudden passing of its co-chief executive officer, Han Jong-hee, who died of a heart attack at the age of 63. Han was responsible for overseeing the company’s consumer electronics and mobile devices division. His death occurred on Tuesday while he was receiving treatment for cardiac arrest at a hospital. A successor has not yet been appointed.
Han’s tenure at Samsung spanned nearly four decades, during which he made significant contributions, particularly within the television sector. In 2022, he ascended to the roles of vice-chair and CEO, also serving as a board member. His leadership was marked by efforts to navigate the company through a rapidly evolving technological landscape.
Recently, Samsung has faced challenges, including declining earnings and a dip in share prices. The company has been striving to keep pace with competitors in the advanced memory chip sector and contract chip manufacturing, both of which have seen increased demand due to advancements in artificial intelligence. Additionally, Samsung has relinquished its position as the leading smartphone manufacturer to Apple.
Just last week, Han presided over Samsung’s shareholder meeting, where he and other executives addressed concerns from shareholders regarding the company’s recent performance and its position in the burgeoning AI market. Samsung has been trailing behind competitors like SK Hynix in the production of high-bandwidth memory chips essential for AI graphic processing units.
Han Jong-hee’s unexpected passing represents a significant loss for Samsung Electronics. The industry now awaits the company’s decision on new leadership to guide it through current challenges and future opportunities.