New Years’ might be a few weeks away, but it looks like companies are already embracing the "new year, new me" philosophy with a whole host of organizational changes.
Samsung announced an internal reorganization with it now having two new CEOs overseeing two divisions — its semiconductor chips segment and consumer electronics segment. Jong-hee Han also replaces the previous CEO to now head its consumer electronics segment, while Kyehyun Kyung is appointed as the semiconductor chips segment CEO.
Over in China, the e-commerce giant, Alibaba, is no stranger to corporate reshuffles as well, with the company’s CFO, Maggie Wu, stepping down to make way for Toby Xu (who was the deputy CFO before). The reshuffle is a move towards planning for the future as Maggie Wu remains on the Board.
Finally, over in Twitter land (TWTR), the company’s new CEO is making changes too. Twitter confirmed that two executives, the Chief Design Officer and Head of Engineering, are to step down — further details on why the changes were carried out were withheld by Twitter’s spokesperson.
Why it matters
With trends like The Great Resignation and customers facing shortages due to supply-chain issues, corporate reshuffles have become a solution to bring in fresh new faces and hit the reset button. As of market close yesterday, Twitter and Samsung stock were up by 3.5% and 4.7% respectively.
