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Samsung Electronics Appoints New Head of Key Business Support Office

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Samsung Electronics has appointed HK Park as the new head of its Business Support Office, the company’s central decision-making body that serves as a key coordination hub for chairman Jay Y. Lee and Samsung Group’s vast network of affiliates.

The unit, recently upgraded from a task force into a full-fledged office, functions as a strategic control tower across South Korea’s largest conglomerate, whose businesses span semiconductors, smartphones, shipbuilding, and pharmaceuticals.

Park, a former chief financial officer (CFO) at Samsung Electronics, joined the Business Support Task Force a year ago before being promoted to lead it. His appointment marks the first major leadership reshuffle since the office’s formation, following Samsung’s 2017 decision to dissolve its previous corporate nerve center after it became embroiled in a high-profile graft scandal.

Park replaces Chung Hyun-ho, who will now serve as an advisor to Chairman Jay Y. Lee. According to Samsung, Vice Chairman Chung, 65, “expressed his intention to step down from management to focus on nurturing future leaders, as Samsung’s business has been back on track.”

The company also said it has no plans to expand personnel at the Business Support Office at this time.

The leadership change underscores Samsung’s efforts to streamline its internal governance while maintaining close coordination across its many divisions — from memory chips and displays to consumer electronics — at a time of intense global competition and rapid AI-driven transformation.

Worldline Narrows 2025 Profit Forecast, Eyes New Asset Sales to Rebuild Investor Trust

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French digital payments group Worldline (WLN.PA) has tightened its 2025 profit forecast and hinted at further asset disposals in the coming weeks, as it seeks to restore investor confidence after a turbulent period marked by governance issues, client losses, and regulatory scrutiny.

The company now expects adjusted EBITDA between €830 million and €855 million ($967 million–$997 million), narrowing the previous range of €825 million to €875 million. It projects free cash flow between –€30 million and breakeven, according to a company statement.

CEO Pierre-Antoine Vacheron said Worldline intends to finalize the planned sale of its Mobility & e-Transactional Services (MTS) unit to Magellan Partners — valued at €410 million — in the first half of 2026, with additional transactions to be announced soon. “My key priority is to restore credibility and trust in the guidance that we give,” Vacheron told reporters.

Worldline has seen its market value plunge nearly 90% since the pandemic peak, following multiple profit warnings, management reshuffles, and a Belgian probe into alleged money laundering at its local branch. The company said it has since completed an external review of its merchant portfolio and compliance framework, which it claims is “in line with industry benchmarks.”

For the third quarter, Worldline reported €1.1 billion in revenue, down 0.8% year-on-year, but meeting analyst expectations. The company plans to unveil its mid-term strategy on November 6, as investors await clearer signals on its restructuring roadmap and future growth strategy.

Telstra Fined $12 Million for Secretly Slowing Internet Speeds of Nearly 9,000 Customers

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Australia’s largest telecommunications company, Telstra, has been ordered to pay A$18 million (about $11.9 million) after a court found it misled thousands of customers by reducing their internet speeds without informing them, the Australian Competition and Consumer Commission (ACCC) announced on Friday.

According to the ACCC, Telstra migrated 8,897 customers from its low-cost brand Belong to a plan with half the original upload speed between October and November 2020, without any notification or consent. This left users unknowingly paying for a downgraded service.

“Telstra’s failure to inform customers that their broadband service had been changed denied them the opportunity to decide whether the changed service was suitable for their needs,” said ACCC Commissioner Anna Brakey. The regulator emphasized that customers deserve transparency and control over the quality of the services they pay for.

Beyond the fine, Telstra has committed to compensating affected customers, offering A$15 credits or refunds for every month they were on the reduced-speed plan. A Telstra spokesperson told Reuters that the company accepted the court’s decision and was finalizing remediation efforts.

The ruling adds to growing regulatory scrutiny of Australia’s telecom sector, particularly after Optus—one of Telstra’s main competitors—suffered two emergency call outages last month, one of which was linked to four deaths.

On the market, Telstra shares fell 0.7% following the announcement, while the broader Australian benchmark index (.AXJO) rose 0.5%.

The case underscores how digital infrastructure providers are increasingly being held accountable for consumer transparency and service integrity, as Australia tightens oversight over its critical communications networks.