Samsung Electronics Co. announced Tuesday that its co-chief executive officer Han Jong-hee has died of cardiac arrest at the age of 63.
Han, who led Samsung’s consumer electronics and mobile devices division, passed away at a hospital in Seoul while undergoing treatment. The company expressed its condolences in a statement, saying, “Our deepest condolences are with his family and loved ones during this difficult time”.
The executive’s death comes at a challenging time for Samsung, which has been grappling with weak earnings and declining stock prices. The tech giant has fallen behind competitors in advanced memory chips and contract chip manufacturing, areas that have seen strong demand due to the artificial intelligence boom.
Han had joined Samsung nearly 40 years ago after earning a bachelor’s degree in electrical engineering from Inha University. He rose through the ranks, becoming the head of the product research and development team for Samsung’s visual display division in 2011 before leading the division in 20171. In 2022, Han was appointed vice chairman and co-CEO of Samsung.
The company credited Han with being “instrumental in fortifying Samsung’s paramount industry position” in its visual display business. He played a crucial role in the development of Samsung’s LED TVs and video processing technologies.
Just last week, Han chaired Samsung’s annual shareholder meeting, where he apologized for the company’s recent stock performance and acknowledged its failure to adequately respond to the rapidly evolving AI semiconductor market.
Samsung has not yet announced a successor to Han’s position. The company’s other co-CEO, Jun Young-Hyun, who oversees the chip business, is expected to become the sole CEO.
Despite the news of Han’s passing, Samsung Electronics’ shares remained flat in morning trading.
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