Samsung Electronics suffered a major loss as its co-chief executive officer, Han Jong-hee, passed away on Tuesday due to cardiac arrest. The 63-year-old was leading the company’s consumer electronics and mobile devices division, while his counterpart, Jun Young-hyun, managed the semiconductor business. A company spokesperson confirmed that Han was receiving treatment at a hospital when he passed away, and no successor has been named yet.

Impact on Samsung and Market Reaction

Despite the news, Samsung Electronics’ shares remained stable in morning trading. The company has been facing challenges in recent quarters, struggling with declining earnings and share prices. It has lost ground to competitors in the advanced memory chip sector and contract chip manufacturing, areas that have seen a surge in demand due to AI-related projects. Samsung has also ceded its position as the leading smartphone brand to Apple.

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A Legacy in the Tech Industry

Han dedicated nearly 40 years to Samsung, building a reputation in the TV business before being appointed vice chairman and CEO in 2022. He was also a member of the company’s board and recently chaired Samsung’s shareholder meeting, where he addressed concerns over the company’s inability to capitalize on the AI semiconductor boom. Samsung has fallen behind SK Hynix in the production of HBM chips, a key component in AI-driven graphic processing units.

His Final Public Appearance and Future Uncertainty

During his last public address, Han expressed regret over Samsung’s stock performance, acknowledging the company’s slow response to AI market trends. He was scheduled to attend a major launch event for Samsung’s new home appliances on Wednesday. With his passing, Samsung faces uncertainty as it navigates leadership changes and strategic shifts in an increasingly competitive tech landscape.