Samsung promotes smaller director-level personnel on weak earnings

Samsung Group, South Korea's largest conglomerate, said Thursday that it promoted a smaller director- level personnel, including vice president, senior managing director and managing director, as part of its annual reshuffle.

Officials who were promoted to the director-level positions totaled 353 in 2014, sharply down from 476 in 2013, the group said in a statement. They included 42 vice presidents, 58 senior managing directors and 253 managing directors.

The figure continued to fall from 501 in 2011 to 485 in 2012 and 476 in 2013.

The smaller promotion came as Samsung Electronics, the group's flagship unit, posted sluggish earnings this year amid fiercer competition with Chinese rivals in the low-end products.

The promotion in Samsung Electronics declined from 227 last year to 165 this year.

The group said that its promotion principle of compensation being given to good performance was reconfirmed through this year' s annual reshuffle.