Every year, the South Korean owners of the Samsung conglomerate conduct a corporate shuffling that moves out poorly performing managers and gives newer executives a chance to shine. And many analysts in the region expect J.K. Shin -- the executive who has been in charge of Samsung's smartphone operations since 2011 -- to get the boot this week.
According to a lengthy report on the company by Bloomberg, Samsung Group Vice Chairman Lee Jae Yong, who is 47 years old, is working to assert his control over the South Korean conglomerate following the heart attack last year that forced his father to relinquish control of the company. While Lee Jae Yong left Shin in place last year during the company's annual management rearrangement, this year likely will be different due to Samsung's increasing struggles in the global smartphone market.
"I don't think he will continue to keep the leaders, especially at the mobile business, who are responsible for the declining earnings," Claire Kim, an analyst at Daishin Securities Co., told Bloomberg. Article