“Tech Giant shakes up board with nominations”
SEOUL (Reuters) – Samsung Electronics, in a move to bolster the competitiveness of its struggling semiconductor business, has put forth nominations for Jun Young-hyun, its chip business chief, and Song Jai-hyuk, the Chief Technology Officer, to join its board. Additionally, the South Korean company disclosed in a regulatory filing that it has suggested Seoul National University Professor Lee Hyuk-jae as an outside director. Lee, an expert in the field of chips, currently heads the semiconductor research center at Seoul National University.
By nominating two chip executives and a semiconductor academic to the board, Samsung aims to enhance its strategic focus on chip technology at the highest levels of the organization. The company has been actively working to regain its foothold in the chip market, particularly after losing its position as a market leader in high-bandwidth memory (HBM) chips utilized in Nvidia’s AI graphics processing units (GPUs) to its domestic competitor, SK Hynix.
Samsung has indicated that the proposed board nominations are scheduled to be voted on during a shareholders’ meeting set for March 19. (Reporting by Joyce Lee and Hyunjoo Jin; Editing by Ed Davies)
