Samsung’s Lee Jae-yong promoted to chairman
Samsung Electronics vice chairman Lee Jae-yong was promoted to chairman on Thursday, taking the top post of the world’s largest chipmaker held by his father, who died two years ago.
The company said in an announcement that the board of directors approved the appointment of Lee as executive chairman.
Samsung Electronics Board chairman Kim Han-jo recommended the appointment, which was followed by the board’s approval, it added.
The board cited the “current uncertain global business environment” and “the pressing need for stronger accountability and business stability” in approving the recommendation.
Samsung added that the 54-year-old’s inauguration ceremony is not scheduled for Thursday.
Lee appeared at a district court on Thursday morning for a trial surrounding his alleged involvement in the controversial 2015 merger of Samsung C&T and Cheil Industries into a de facto holding company of the Samsung conglomerate.
Lee, who joined Samsung in 1991, has held the vice chairman post for a decade.
The Korea Herald
Asia News Network
