Samsung names two co-CEOs, means three are now in charge

After launching the Galaxy S4 Thursday in New York City, Samsung appointed two Chief Executive Officers.

According to The Wall Street Journal, the Smartphone company promoted J.K. Shin and Yoon Boo-Keun as co-CEOs who join CEO, Kwon Oh-hyun.

Yoon is currently the president of consumer-electronics division, while Shin is the president of telecom’s division. Both are expected to continue to oversee their divisions as well as the company’s business along with Kwon, who is the vice chairman.

"To move to a multiple CEO system will have little impact on the company's management as Mr. Yoon and Mr. Shin had already been taking full control of their respective divisions," said Sanford C. Bernstein analyst Mark Newman.

With Shin in charge, Samsung has become the leading Smartphone provider in the world, reports The Washington Post. Shin has been out to differentiate Samsung from competitors like Apple and other Android makers. The Galaxy S II, S III and Note have all been examples of that.

User feedback is what drives Samsung's success, said Shin. It must be working since the company had five straight record profit quarters and $52.6 billion in sales for the month of January.

It’s not seen as a need just yet but Samsung might have to split its business if they want to successfully compete in the consumer market to avoid conflicts of interest.

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