Samsung Electronics Names New CEO
Samsung Electronics named a new CEO, potentially adding a new dynamic to its frenemy relationship with Apple. The Korean electronics giant appointed Kwon-Oh-hyun, head of Samsung's components operations, as its new CEO. He replaces Choi Gee-sung, who lead Samsung's rise as Apple's fiercest smartphone rival with its Galaxy lineup. Choi will assume the new role of head of corporate strategy, which includes 80 companies and Samsung Electronics, says CNBC. Samsung Electronics produces the company's smartphones and televisions. Kwon lead the company's display and chips business, which he is credited with securing Samsung's 50 percent market share for memory chips, says CNBC. During his tenure, he also pushed the company to become the sole supplier of Apple's iPhone and iPad mobile processors. Although he will take on the CEO role, Kwon will also continue to oversee its components business.
