Samsung Electronics co-CEO Han Jong-Hee died from cardiac arrest on Tuesday, according to a spokesperson for the South Korean tech giant. Han was 63.

Born in 1962, Han had overseen Samsung’s consumer electronics and mobile devices businesses since 2022, according to the company. He was named Samsung Electronics vice chairman and CEO in 2022. Han’s co-CEO, Jun Young-Hyun, was appointed to the position last week.

The spokesperson told CNN that Jun, who has been leading the semiconductor business, would be the company’s sole CEO after Han’s death.

In an internal message seen by CNN, Samsung paid tribute to Han, saying he had dedicated more than 37 years of his life to leading Samsung’s TV business to become a global leader. As the head of its electronics and appliances businesses, he also contributed to the company’s growth amid a “challenging business environment.”

“Our deepest condolences are with his family and loved ones during this difficult time,” the message said.

The electronics giant has run into significant headwinds in recent years. Its logic semiconductor business trails contract chipmaking industry leader Taiwan Semiconductor Manufacturing Company (TSMC) both in terms of ramping up production of cutting-edge chips and securing major customers.

On the memory side of the chip business, which has long been a strength for Samsung, analysts say it has fallen behind South Korean rival Hynix in the market for high bandwidth memory (HBM) technology, which has contributed to a slump in its share price. HBM chips are essential for the graphic processing units created by the likes of Nvidia.

During an annual meeting with investors last week, which he chaired, Han apologized for the performance of Samsung stock and warned of a difficult 2025 because of uncertainties around the economic policies of major economies, according to Reuters. He added that Samsung would seek “meaningful” mergers and acquisitions deals this year to support the company’s growth.

“There are some difficulties in doing semiconductor M&As due to regulatory issues and various national interests, but we’re determined to produce some tangible results this year,” he was quoted as saying.

Han joined the company in 1988 after earning a bachelor’s degree in electrical engineering from Inha University. Prior to running Samsung’s electronics and devices division, he was in charge of the display operation.

Han was “central” in rolling out Samsung’s LED TVs, which, along with other innovations of his, helped the company “continually demonstrate technology leadership,” Samsung said in a company biography published last week.