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Electronics company Samsung has made a series of upper management changes starting with the appointment of Yoon-Woo Lee as vice chairman and chief executive. He replaces Jong-Yong Yun, who has been at the helm of Samsung since 1997 and who will now serve as the company's standing adviser. Vice chairman Ki-Tae Lee will take over from Lee to lead the external relations operations at Samsung, and Dr. Chang-Gyu Hwang, president of Samsung's semiconductor business, will replace Ki-Tae Lee to lead the corporate technology operations.

"The latest measure reflects the company's determination to focus on developing future growth, and to find a new momentum to become a world leading company," Samsung Electronics said in a statement. "Vice chairman Lee has the leadership and the experience to take Samsung Electronics to the next level."

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