Samsung appoints Joonou Nam as Samsung Heavy Industries’ new CEO

The change at the top follows the shipbuilder’s announcement of its forecast of yet another operating loss for this year.

On Monday, in a strategic move Samsung Heavy Industries appointed Joonou Nam as its new chief executive officer after Park Dae-young resigned taking the responsibility for the company’s losses.

The shares of the shipbuilder trod on a downward slope last week after the firm announced a forecast of an operating loss, a fourth in straight years, and also announced a rights issue.

Nam previously oversaw Samsung Heavy’s shipyard in Geoje, South Korea.

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