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Sunday, January 21, 2018

Samsung Heavy Industries Replaces CEO

Posted by December 12, 2017

South Korea’s Samsung Heavy Industries named Joonou Nam as its new chief executive officer on Monday after Park Dae-young resigned to take responsibility for the firm’s losses.
 
The shipbuilder’s shares plunged last week as it forecast a fourth straight year of operating losses and announced a rights issue.
 
Nam previously oversaw Samsung Heavy’s shipyard in Geoje, South Korea.
 
 
(Reporting by Hyunjoo Jin and Joyce Lee; Editing by Stephen Coates)
Samsung Heavy IndustriesPark Dae-youngSouth Korea