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Samsung unveils its future “flagship product”09.12.2021 [10:00],
Samsung Electronics made an important choice when it comes to business’s future: Lee Jae Yong is nominated as vice-chairman associated with the board of administrators, which clearly suggests their part as successor to his 70-year-old parent, chairman of this board of the business and its particular main owner – Lee Kun. -Hee (Lee Kun Hee), billionaire whom turned a former fish exporter into Asia’s biggest electronic devices maker.
Lee Jae-yong (Bloomberg)
Despite having the Li clan’s iron hold in the South Korean tech monster, nurturing a future business frontrunner has proven is an intimidating task. This procedure took two decades.
In 1991, Lee Jae-yong became the main Samsung Electronics manager group, serving as Vice President of Strategic thinking and then Director of Customer Relations. In the event that last post appears somewhat artificial, then one way or another it had been so in rehearse. It had been specifically made for Lee Jae-yong and ended up being abolished after his deviation in 2021 – a period as soon as the project into the future senior government was in dangerous doubt. His father stepped straight down as chairman associated with board of administrators after being accused of income tax evasion, which pushed their child to leave the organization for a time.
Lee Kun-Hee (The New York Days)
On December 15, 2021, Samsung Group seized the opportunity to revive procedure Successor. The business created a brand new position in Samsung Electronics – Chief working Officer (at the least this post sounds more familiar into the international neighborhood) and put on it Lee Jae-yong, the latter also obtained the standing of Executive vice-president.
Time of leadership reshuffle when television and phone maker flourished seems odd. But it has a unique calculation: Lee Jae-yong’s promotion to a senior management place at Samsung Electronics during a period of very good marketplace roles associated with organization could gain his profession. “He can get a strong reputation when it comes to organization’s present financial success,” stated Kim sunlight Woong, head for the independent business governance analysis center.
Two weeks after youthful Lee returned to the family kingdom that is the reason one-fifteenth of South Korea’s gross domestic item, President Lee Myung Bak pardoned Lee Kung-hee for crimes he committed while he was president of Samsung. Three months later, the latter once more used the post he left in 2021. A year later, his only child ended up being marketed again, this time into the degree of company president.
Lee Kun-Hee (This New York Days)
Samsung is a dynastic organization rather than everyone is pleased with that in Southern Korea. Lee Kun-Hee had been recruited into the team by their dad Lee Byung-Chul, which founded Samsung in 1938. After overcoming the taxation scandal round the title of Lee Kun-Hee and, this indicates, the ultimate determination for the role of his son Lee Jae-Yong, there remains another menace for the richest guy when you look at the nation (state $ 8.3 billion) – their relatives: older cousin and cousin are attempting to sue he’s at the least $ 850 million in Samsung Group stocks.