Samsung Electronics has made major changes at the top by bringing in Kwon Oh-hyun, the head of the components division, as its new chief executive officer to replace Choi Gee-sung.

He will continue to oversee the company’s component business, but as CEO will also handle corporate-wide affairs, said Samsung. The company also stressed that under the new CEO, it would continue to operate its components operations separately from other divisions.

Mr Choi (pictured), in the meantime, has been moved to the powerful post of head of corporate strategy at the parent Samsung Group where he will focus on developing new business for the group’s 81 companies and support Samsung chairman Lee Kun-hee.

“Mr Choi is the best candidate who can chart Samsung through the global economic crisis and ever-intensifying competition,” said the company in a statement.

His move follows a call by the chairman for staff to prepare innovative changes to remain competitive. Under Mr Choi, the company said it now plans to pursue those changes.

According to reports, Mr Choi is also the chief mentor of Jay Y Lee, the chairman’s son, who is currently chief operating officer and is being groomed to take over the business.