Samsung Electronics appoints new CEO
Surprise reshuffle at top of Korean giant
Samsung Electronics has announced that Mr Kwon Oh-hyun, formerly head of the company’s component business, is to be appointed Chief Executive Officer. Current CEO Mr Choi Gee-sung, who led Samsung Electronics to global No.1 position in television and smartphone manufacture, is to move to parent company Samsung Group to take over as head of corporate strategy, with a brief to develop new business across the Group.
The reshuffle, which according to some industry watchers is part of the Group’s preparation to face further global financial disruption and fiercer competition from China, will not impact noticeably on day-to-day operations, said Samsung in a statement. “As before, vice-chairman Kwon will oversee the company's component business but, as chief executive, he will also handle corporate-wide affairs.”
The moves, which make changes to the leadership of a very successful worldwide electronics group, has caused some surprise, and rivals such as Apple – with whom Samsung is contesting the No1 spot in smartphones – will be watching closely, not least because Samsung supplies smartphone components to other manufacturers.