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Samsung prepares for change at the top
By Kelly Olsen |
November 18, 2010, Thursday
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Print Edition
Print Edition
THE chairman of Samsung Electronics said yesterday his son will be promoted to a more powerful executive position, preparing the global technology giant for an eventual change in leadership.
Samsung Electronics Co is the flagship corporation of the Samsung Group conglomerate, which consists of dozens of other businesses including shipbuilding, construction, leisure and finance.
Chairman Lee Kun-hee, 68, has steered Samsung into a major force in the world electronics industry, where it is No. 1 in memory chips and flat screen televisions and No. 2 in mobile phones.
Attention has long been focused on an eventual power transfer at family controlled Samsung, which is a source of pride among South Koreans for its technological prowess as well as controversy for its scrapes with the law.
Lee Kun-hee, returning from the Asian Games in Guangzhou, China, answered positively to a question from reporters about whether his son, Lee Jae-yong, would be promoted from executive vice president, said a Samsung spokeswoman.
Some media reports said the younger Lee would be made president, but the Samsung spokeswoman said that Lee Kun-hee did not specify any position.
Lee Jae-yong, 42, also holds the position of chief operating officer at Samsung. He was promoted to his posts in December last year and has previously served as chief customer officer and vice president for strategic planning.
Samsung's current president and CEO is Choi Gee-sung.
Lee Kun-hee quit as chairman of Samsung Electronics in April 2008 upon indictment for tax evasion.
Samsung Electronics Co is the flagship corporation of the Samsung Group conglomerate, which consists of dozens of other businesses including shipbuilding, construction, leisure and finance.
Chairman Lee Kun-hee, 68, has steered Samsung into a major force in the world electronics industry, where it is No. 1 in memory chips and flat screen televisions and No. 2 in mobile phones.
Attention has long been focused on an eventual power transfer at family controlled Samsung, which is a source of pride among South Koreans for its technological prowess as well as controversy for its scrapes with the law.
Lee Kun-hee, returning from the Asian Games in Guangzhou, China, answered positively to a question from reporters about whether his son, Lee Jae-yong, would be promoted from executive vice president, said a Samsung spokeswoman.
Some media reports said the younger Lee would be made president, but the Samsung spokeswoman said that Lee Kun-hee did not specify any position.
Lee Jae-yong, 42, also holds the position of chief operating officer at Samsung. He was promoted to his posts in December last year and has previously served as chief customer officer and vice president for strategic planning.
Samsung's current president and CEO is Choi Gee-sung.
Lee Kun-hee quit as chairman of Samsung Electronics in April 2008 upon indictment for tax evasion.
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