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Samsung names new CEO

Samsung Electronics has named Kwon Oh-hyun as its new CEO, replacing 61-year-old Choi Gee-sung. Kwon has been running the Korean conglomerate’s components business, where he helped the company expand into logic chips.

As CEO, Kwon will now assume control of Samsung’s blockbuster mobile device business. Samsung recently surpassed Apple as the world’s top seller of smartphones, and overtook Nokia as the leading vendor of all types of mobile phones.

Choi Gee-sung’s new position will be head of corporate strategy for Samsung Group, the parent company of Samsung Electronics and 80 other companies.

Kwon has very close ties to Jay Y. Lee, 43, the only son of Samsung Group Chairman Lee Kun-hee, who returned to lead the company two years ago after being sentenced to jail for tax evasion. (The Korean president pardoned him so that he could return to Samsung.) Lee is widely expected to succeed his father as chairman of Samsung Group.

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Martha DeGrasse
Martha DeGrassehttp://www.nbreports.com
Martha DeGrasse is the publisher of Network Builder Reports (nbreports.com). At RCR, Martha authored more than 20 in-depth feature reports and more than 2,400 news articles. She also created the Mobile Minute and the 5 Things to Know Today series. Prior to joining RCR Wireless News, Martha produced business and technology news for CNN and Dow Jones in New York and managed the online editorial group at Hoover’s Online before taking a number of years off to be at home when her children were young. Martha is the board president of Austin's Trinity Center and is a member of the Women's Wireless Leadership Forum.