Samsung CEO resigns as tech firm projects record profits

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Samsung electronics has today made two contrasting announcements. First, it issued an optimistic third-quarter earnings guidance then it later posted a resignation letter from chief executive officer and vice chairman Oh-Hyun Kwon. In the letter, Kwon said it is time for new leadership as the company faces an “unprecedented crisis inside out.” In terms of earnings, the chaebol has had a good year so far, posting strong first and second-quarter results thanks to its components business, which Kwon also oversees. From a leadership perspective, however, it has had a very difficult…

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