Gee-sung Choi steps down as Samsung CEO, succeeded by Vice Chairman and component business (chips and display) head Oh-hyun Kwon (in photo, left).
A Samsung employee since 1985, Kwon became a senior executive in 1992 and leader of Samsung's logic chip efforts in 1998. He also led Samsung to becoming mobile processor supplier to no other than its biggest rival, Apple.
In separate news Samsung is building a $2 billion production line in S. Korea, where it will make mobile processors on 300mm wafers using 20 and 14nm technology.
However Samsung is shuffling internal structure by separating consumer and component segments-- with consumer product division leaders (such as TV and phones) not reporting to the new CEO.
Overseeing all operations is Chairman Kun-Hee Lee, son of the Samsung founder and arguably most important executive within the company.
On the other hand ex-CEO Choi has a new role as head of corporate strategy. He also acts as chief mentor to Jay Y. Lee, son of Lee Kun-hee and probable heir to the Samsung empire.
Go Samsung Appointment of New CEO
