Samsung Electronics appoints Kwon oh-Hyun as new CEO


Head of electronics firm’s component business announced as new boss, as outgoing CEO becomes head of corporate strategy at Samsung Group

Samsung Electronics has named the head of its component business Kwon Oh-hyun as its new CEO.

Kwon, who had been promoted to vice-chairman in December, replaces Choi Gee-sung, who will now become head of corporate strategy at the parent company Samsung Group.

Under his leadership, Samsung became the number one handset manufacturer in the world. In the first three months of this year, it shipped 93 million phones compared to almost 93 million by Nokia.

Samsung said in a statement: “As before, vice-chairman Kown will oversee the company’s component business but, as chief executive, he will also handle corporate-wide affairs.”

The appointment comes just over a week after Samsung released its Galaxy S III smartphone (pictured) on May 30 throughout Europe. Pre-orders for the phone topped nine million sales.

In addition, Samsung has also announced it will invest £1.2 billion to build a chip plant in order to meet the growing demand for processors in mobiles.