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Samsung Electronics CEO announces resignation as company forecasts record profits

AppleInsider Friday, 13 October 2017
Longtime Apple "frenemy" Samsung Electronics on Friday local time said CEO and Vice Chairman Kwon Oh-hyun will resign from management effective March 2018. The surprise announcement comes as the South Korean tech giant forecasts record-breaking quarterly profits on the back of strong memory chip gains.
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News video: Samsung CEO announces shock resignation

▶ Samsung CEO announces shock resignation 00:30

Samsung Electronics says its CEO and Vice Chairman is stepping down despite forecasting record third-quarter profits on the back of soaring memory chip prices. The 64-year-old Oh-Hyun Kwon had been expected to take a bigger role following the February arrest of Samsung Group’s heir apparent Jay Y....

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