Korea's Samsung Electronics announced on January 16 a major organizational restructuring, streamlining its businesses into two groups, along with personnel changes in top management, according to the Korea Herald. The company's semiconductor and LCD (Liquid Crystal Display) businesses will be combined into a device solution unit, to be headed by Samsung Electronics CEO Lee Yoon-woo. A digital media and communications unit, covering the gamut of mobile phones, TVs and other consumer electronics, will be led by the present president of Samsung's telecommunications business Choi Gee-sung.

At the same time, 25 top executives in both Samsung Electronics and the overall Samsung Group will be affected by the personnel reshuffle. Of the 25 presidents and vice chairmen, 12 will be promoted, while all but two top executives aged over 60 will be replaced, according to the Korea Herald. The adjusted personnel arrangement is seen as a means to introduce more young blood into the company's top management.