However, it has not been cleared yet if the any of these leaders will have the status equivalent to Kwon Oh-hyun
After the surprise resignation of Samsung Electronics CEO Kwon Oh-hyun earlier this month, Samsung has now announced his replacements. Samsung will have three leaders with a specific key area to focus upon.
There’ll be three leaders each with a specific area of focus — Kim Ki-nam will head the components business, Kim Hyun-suk (HS Kim) will take care of consumer electronics, and Koh Dong-jin (DJ Koh) will now be the in charge of mobile and IT.
However, it has not been cleared yet if the any of these leaders will have the status equivalent to Kwon Oh-hyun but experts believe Samsung’s announcement seems to put them on the same level. The appointment of three heads will take Samsung back to its previous three-CEO structure.
“The next generation of leaders are well suited to accelerate the pace of innovation and address the demands of the connected world,” Kwon said in a statement. “They have proven track records with extensive experience and outstanding expertise in their fields.”
Meanwhile, South Korean technology giant Samsung Electronics Co Ltd promised to return $26 billion to shareholders over the next three years as it reported record third-quarter profit on the back of the global boom in memory chips.
The world's biggest maker of semiconductors, televisions and smartphones said it would double dividends next year to 9.6 trillion won and keep them at that level until 2020, as it responds to investor pressure to share its vast cash reserves and catch up with some of its more generous peers.
It also said 2017 capital expenditure would be its biggest ever, climbing 81 per cent to 46.2 trillion won ($41 billion) as it builds new chip factories and clean-rooms to stay ahead of demand for servers and devices with ever greater memory.
"The current record earnings are born out of such massive investments in the past, and the outsized capex is a sign that Samsung will continue investing for future results," said Greg Roh, analyst at HMC Investment & Securities.
"Next year's capex could be similar for Samsung to keep this momentum."
Operating profit nearly tripled in the third quarter from the same period a year earlier, to 14.5 trillion won ($12.91 billion), Samsung said in a regulatory filing, matching its earlier estimate.
Revenue jumped 29.8 percent to 62 trillion won, also in line with its earlier estimate.
The shareholder return policy for the next three years ramped up guidance to a level higher than its current range of 30-50 percent of free cash flow to 50 percent over three years.
Samsung's holdings of cash and cash equivalent stood at 76 trillion won at the end of September, eight percent higher than the previous quarter thanks largely to strong earnings that have more than paid for massive capital expenditure.
While the dividend policy builds on the investor-friendly trend Samsung started in 2015, it was not as generous as some investors had hoped, analysts said.
Earlier this month, Samsung's CEO and Vice Chairman Kwon Oh-hyun stepped down from management, deepening concerns over a leadership vacuum at the tech giant after group scion Jay Y. Lee was jailed for bribery.
The surprise resignation of Samsung's chip and display head came as he was expected to take a bigger role following Lee's arrest in February and the departures of other key executives in the wake of the bribery scandal.
The move came on the same day the South Korean smartphone maker forecast record third-quarter operating profit on the back of the memory chip business which Kwon was instrumental in building into the world leader.
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