Samsung SDI names new CEO in bid to overcome battery market slump

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Samsung SDI names new CEO in bid to overcome battery market slump

Published: 28 Nov. 2024, 15:16 Updated: 28 Nov. 2024, 18:56

SARAH CHEA
[email protected]

Audio report: written by reporters, read by AI

Choi Joo-sun, the new CEO of Samsung SDI [SAMSUNG SDI]

Samsung SDI named Choi Joo-sun, the former head of Samsung Display, as its new CEO as the battery maker seeks a major strategic breakthrough to combat the prolonged downturn in battery demand.

Choi, 61, who started his career as a chip engineer, is considered a veteran in both the technology and management fields through his extensive experience at Samsung Electronics and Samsung Display. The appointment became effective on Thursday.

Choi graduated from Seoul National University with a degree in electrical engineering and earned a master's and Ph.D. in the same field at KAIST. He started his career at Hynix Semiconductor, the predecessor of SK hynix, working on the designs of dynamic random-access memory (DRAM) and also has experience at Micron Technology.

Yi Chung [SAMSUNG DISPLAY]

He joined Samsung Electronics in October 2004 as a DRAM engineer, where later he was promoted to vice president, spearheading strategic marketing in 2014. He then moved to the Device Solutions division in 2017 and headed U.S. operations as a vice president.

Since 2021, Choi had been serving as the CEO of Samsung Display.

"Based on his accumulated know-how and leadership, Choi will lead Samsung SDI's innovation, as well as enhance the company value," Samsung SDI said in a statement.

Former CEO Choi Yoon-ho was moved to head the newly formed business consultation division at Samsung Global Research, a Samsung think tank that will consult with affiliates on management decisions amid growing uncertainties both internally and externally.

With the shake-up, Yi Chung, a veteran organic light-emitting diode (OLED) developer, was promoted to CEO of Samsung Display.

Yi acquired experience in Samsung Electronics' liquid crystal display business and moved to Samsung Display in 2014 as an OLED developer.

He had been spearheading the business division's development and sales of small- and medium-sized panels as vice president since the end of 2020.

BY SARAH CHEA [[email protected]]