Samsung Electronics has promoted Jay Y. Lee, the son of the company's chairman, to vice chairman. Lee, 44 years old, has served as president and chief operating officer of Samsung. Samsung said Lee has built strong relationships with global business leaders and was instrumental in forging partnerships with key customers. In addition, he had made "invaluable contributions to the unprecedented growth of Samsung's smartphone and TV businesses, and to the rapid rise in the value of the Samsung brand, despite the challenging business environment", Samsung said in a statement. In addition, Samsung named Kinam Kim of the Samsung Advanced Institute of Technology as CEO of Samsung Display and head of the company's OLED business. He replaces Soo-in Cho, who moves to head Samsung's health and medical equipment business. Don-joo Lee was also promoted to president of sales and marketing at the Mobile Communications Division.
