Samsung Electronics Co., Ltd. announced on Friday the appointment of Park Hark-kyu as the new head of its Business Support Office, a critical decision-making body that provides support to Chairman Jay Y. Lee.

The South Korean tech giant stated in a release that the Business Support Office has been elevated from a task force to a formal division.

Samsung noted that Park’s predecessor, Jung Hyun-ho, will transition to an advisory role for Chairman Lee.

A company spokesperson said, "With Samsung’s operations back on track, Vice Chairman Jung expressed his intention to step down from management and focus on nurturing future leaders."