Roh Hee-chan will succeed Lee Sang-hoon as Samsung's new CFO. Just two days ago, Li Shangxun was promoted to chairman of Samsung and no longer served as CFO Roh Hee-chan previously served as the Samsung Display Company CFO.
As of the end of September 2017, Samsung held cash and cash equivalents of 76 trillion won (about 68.31 billion US dollars), an increase of 8% over the second quarter. After serving as a Samsung CFO, Roh Hee-chan will be responsible for managing this Pen huge cash reserves.
In addition to Roh Hee-chan, Samsung also promoted several executives Thursday, including the appointment of Deuk-kyu Hwang as the new president and director of Samsung's China operations, but most of them retained their current positions and were additionally promoted to president.
Samsung this week appointed a new generation of executives, replaced the heads of three major businesses and promised to distribute $ 26 billion in dividends to shareholders within three years up to 2020.
Samsung has gained about 6% in three days after announcing the reorganization of management and reached a record high of 2.876 million won on Thursday.