Samsung officially appointed a new CEO today to replace Choi Gee-Sung, who will now take up a position as head of corporate strategy overseeing Samsung Group’s roughly 80 companies. Choi, who was CEO for over three decades, will be replaced by Kwon Oh-hyun, who Reuters explained is currently head of Samsung’s components business and has deep relationships with Apple. Samsung made a statement claiming there will be no major changes in the way the company operates, because Kwon will continue to run the components business that “became the sole supplier of the mobile processors” for iPhone and iPad under his leadership:
The South Korean group named Kwon Oh-hyun as its new CEO. Currently head of Samsung’s components business, which oversees chips and display, Kwon cemented Samsung’s position in memory chips, where it has almost 50 percent global market share, and expanded into non-memory, or logic chips, which now account for 40 percent of Samsung’s overall semiconductor revenue… Under Kwon, Samsung became the sole supplier of the mobile processors that power Apple’s iPhone and iPad – rival products to Samsung’s own Galaxy and Note. The 59-year-old former engineer, who studied electrical engineering at Seoul National University and Stanford, has also led a restructuring of Samsung’s LCD flat-screen business.