"We are fortunately making record earnings right now, but this is the fruit of past decisions and investments; we are not able to even get close to finding new growth engines by reading future trends right now". Kwon will also recommend a successor for his position, a Samsung spokesperson said. Although Jae-yong denied the charges, he was sentenced to five years imprisonment in August - the harshest sentence ever handed down to a chaebol leader, the Korean name for the country's giant family-run conglomerates.
Despite the spectacular performance, Kwon said the company was in the throes of an "unprecedented crisis" as he announced his intention to step down.
In a letter sent to all employees, Kwon said that announcing his retirement was the most hard thing for him to do, but now was the right time and that he believes his decision is in the best interest of the company.
For its bottom-line boost, the company credited the success of its Galaxy S8 smartphone, along with strong memory-chip sales. Kwon's departure from Samsung makes way for a new management that can finish the company's delayed reshuffle of its top executives. He is also not stepping down immediately from his two other roles.
Kwon's resignation announcement arrived the same day that Samsung predicted record profits for the second straight quarter. "It has not been an easy decision, but I feel I can no longer put it off", said Kwon.
The leadership changes also could be an opportunity for a new generation to emerge, he added.
This version looks great with the top up or down, and no, it isn't just you - we're getting F-Type vibes from the vehicle , too. This is the drop-top version of the DB11, and it's powered by the new 4.0-litre twin-turbo V8 engine producing 375kW.
Recently, reports had been doing the rounds that Rahul might take over as party president by the end of this month. Over the years, the chorus in favour of Rahul Gandhi as party president had been growing louder.
Hurricane Ophelia on Thursday morning (Oct. 12) was slowly moving through the Atlantic Ocean toward the Azores and Ireland. CDT Thursday, Hurricane Ophelia was located 715 miles southwest of the Azores and was moving north-northeast at 2 mph.
While the Yanks were embarking on their improbable comeback against the Indians, the Astros were at home eating popcorn. NY was down 0-2 in the five-game series, but avoided elimination three times. "Good luck, I guess".
Colonial Trust Advisors acquired a new stake in shares of Wells Fargo & in the 2nd quarter valued at approximately $214,000. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.
But police say the cameras can be operated remotely and they found numerous videos in the bedroom, including one of the in couple. The story about an IN couple discovering a hidden camera IN their Florida Airbnb rental is taking the internet by storm .
Air Berlin carried an average of 80,000 people a day, but endured losses of an estimated 782 million Euros a year ago . Lufthansa has agreed to purchase portions of insolvent German airline group Air Berlin for $249 million.
Delta's adjusted fuel price per gallon for the September quarter was $1.68, which includes $0.03 of benefit from the refinery. Morgan Stanley reaffirmed an "overweight" rating on shares of Delta Air Lines in a research note on Tuesday, September 12th.
Facebook doesn't hire journalists: Sheryl Sandberg
Facebook's CEO, Mark Zuckerberg, has backtracked from calling the idea of Facebook's influence on the election "pretty insane ". Currently, Facebook's eight-member board of directors is all white and 75 per cent male.
A House-Sized Asteroid Will Fly Unusually Close To BC Today
While the Chelyabinsk event caught everyone unawares, TC4 is one of thousands of space rocks whose whereabouts are known. They first spotted the approaching house sized asteroid about two months ago and, since then, they kept studying it.
After Ashish Nehra Announces Retirement, Twitter Turns Emotional
Nehra is ecstatic to play at his home ground. "For me the true measure of success is how many times you bounce back from failure". Nehra clarified his stand on retirement from all forms of cricket, he said, "I have decided something, there is no going back".
Embattled credit bureau says it was hacked again
The company has taken part of its website offline after an independent analyst said the site may have been hacked. In many cases, even more personal data was exposed, including driver's license and credit card numbers.
Sex with wife below 18 years is rape, says Supreme Court
India's supreme court has struck down a law allowing men to have sex with a child as young as 15 provided the pair were married. Poverty, weak law enforcement, patriarchal norms and concern about family honor are factors contributing to early marriage.