Samsung SDI replaces all battery heads… Tighten the reins of the turnaround

Samsung SDI replaced all the heads of the battery division, the main division. The chief financial officer (CFO), who is responsible for the company’s housekeeping, has also changed. CEO Jeon Young-hyun (CEO) was retained.

According to the parts industry on the 11th, Samsung SDI replaced all of the head of the management support department and CFO (Vice President), the head of the mid- to large-sized battery division, and the head of the small-sized battery division through executive personnel and organizational reorganization last month. At Samsung SDI, the medium and large battery division is in charge of batteries for electric vehicles and energy storage (ESS), and the small battery division is in charge of battery business for mobile devices such as smartphones and tablets. Until now, the small battery division, which has a supply line for Samsung smartphones, has played the role of the company’s cash cow (revenue source), but thanks to the popularization of electric vehicles, the growth of the mid- to large-sized battery division is remarkable in recent years.

In this greeting, Park Jin (54), executive director, who previously served as the head of the European subsidiary, was appointed as the head of Samsung SDI’s mid-to-large battery division. Based on the Hungarian plant, where four lines are currently in operation, it seems that it will further increase EV battery sales. At the conference call in the third quarter of last year (July-September), Samsung SDI said, “The electric vehicle battery has almost reached the break-even point (BEP). We expect a surplus next year.” Samsung SDI’s Hungarian plant in Hungary is Hyundai Motor, which produces Kona electric vehicles. It is also close to the Czech factory in.

In the midst of Samsung SDI’s expected earnings results, there is also a report saying that it is a remedy for the fire of Ford and BMW electric vehicles equipped with Samsung batteries. When a fire broke out in the second half of last year in Ford’s SUV’Kuga’ plug-in hybrid model (PHEV) equipped with a Samsung battery, Ford recalled, saying, “The cause of the fire is in the battery pack.” The battery pack used in electric vehicles is composed of a module that bundles several battery cells, a battery management system (BMS), and a cooling system.

Samsung SDI explained the personnel as “a dimension to increase organizational dynamism and nurture future executives by employing next-generation leaders.” Vice President Kim Jong-seong, the new CFO, was born in 1964, Park Jin, head of the medium and large battery division (Executive Director) was born in 1966, and Kim Yoon-chang, the new head of the small battery division (Vice President), was born in 1969. Each is 2-7 years younger than its predecessor. Park Jong-ho (55), executive director of the battery materials division, which manufactures polarizing films for display panels, has been appointed.

Samsung Securities researcher Jang Jeong-hoon said, “There is a growing expectation of an upturn in earnings, such as the expansion of electric car sales of Tesla and other automakers, and the development of electric vehicles by Apple.” It could be a potential risk,” he predicted.

Reporter Kim Young-min [email protected]