South Korea’s Samsung Electronics Co. on Thursday promoted Kwon Oh-hyun, the outgoing vice chairman and chief executive, as the chairman of Samsung Advanced Institute of Technology, in a follow-up to a recent leadership reshuffle that appointed new division heads.

The company’s president and chief executive Yoon Boo-keun was promoted to vice chairman responsible for external corporate relations and Shin Jong-kyun to vice chairman for human resources development.

They would be in charge of external affairs in lieu of Vice Chairman Jay Y. Lee who is behind bars implicated in bribery case with ousted president Park Geun-hye.

Kwon was former head of Samsung Electronics’ prized semiconductor and display business while Yoon headed consumer electronics division and Shin the information technology (IT) and mobile communications business. The positions were all replaced by new division chiefs on Tuesday.

In the latest senior executive-level reshuffle on Thursday, Samsung Electronics also promoted seven executive vice presidents to presidents including Tim Baxter who will be corporate president overseeing North America business, Jin Gyo-young, head of device solutions division’s memory business, Kang In-yup, head of system large-scale integration (LSI) business, and Jung Eun-seung, head of foundry business.

Han Jong-hee, executive vice president and head of research and development at consumer electronics division’s visual display business, was also promoted to president while Roh Hee-chan, executive vice president and chief financial officer at Samsung Display Co. was promoted to president, and Hwang Deuk-kyu, executive vice president in charge of Giheung-Hwaseong Complex for the company’s semiconductor business, was appointed as president and head of Samsung China. Chung Hyun-ho, former Samsung Electronics president, was appointed as president responsible for business support task force backing chief executives.

All seven senior executives who were elevated to presidents are in their 50s, which shows Samsung Electronics’ urge for a shift in the generation of leaders. The age of new presidents averaged 55.9 years old with 54-year-old Kang In-yup being the youngest executive.

Samsung Electronics said that the latest promotions underscore a generation shift and focus on performance.

By Hwang Hyung-gyu and Lee Eun-joo

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