Samsung named head of TV and cell phone business, Choi Gee Sung, as CEO to replace Lee Yoon Woo. In addition, the company created a new position, chief operating officer, for son of the former chairman Lee Kun Hee, Lee Jae Yong.
Analysts point to Apple envy for the reasoning behind the corporate refresher, saying that Samsung has taken a blow from the hugely popular iPhone and needs a new start to compete with the consumer electronic and software producer.
Corporate watchers say the new management team will strive to refocus the company in providing total solutions, including creative software, to customers.
Samsung stock was up 49 cents, or .22 percent, to $223.41.
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