Samsung names Vice Chairman Kwon Oh-hyun as its new CEO

New Delhi: South Korean major Samsung Electronics on Thursday said its Vice Chairman Oh-Hyun Kwon will take over as the new CEO, replacing Geesung Choi. "Samsung Electronics has named Vice Chairman Oh-Hyun Kwon as its new CEO. As before, Vice Chairman Kwon will oversee the company's component business, but, as CEO, will also handle corporate-wide affairs," Samsung said in an emailed statement.

Since July 2011, Samsung Electronics has been independently running its set and component businesses. The company said its operations will continue to run on the same model. The outgoing CEO, Geesung Choi, will remain a Vice Chairman and retain his seat on Samsung Electronics' Board of Directors, the statement added.

With regards to the set business, President Boo-keun Yoon will remain in charge of Samsung Electronics' Consumer Electronics Division, which includes TV and appliance products. Meanwhile, President J K Shin will oversee the IT and Mobile Communications Division, while Jay Y Lee will remain as the Chief Operating Officer.

The outgoing CEO will remain a Vice Chairman and retain his seat on Samsung Electronics\' Board of Directors.

Ju-Hwa Yoon will continue as the Chief Financial Officer at Samsung Electronics, the statement said.

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