Samsung Electronics appoints new chip business heads, CFO in reshuffle

Samsung Electronics on Wednesday announced new heads of its memory and foundry chip units, as it scrambles to catch up with SK Hynix and Taiwan’s TSMC in the booming AI chip market.

The South Korean giant’s shares fell 2 per cent at market open as the sweeping reshuffle of top brass did little to calm concern about competitiveness as well as policy risk associated with the incoming US administration of President-elect Donald Trump.