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Samsung Electronics names non-executive director as board chairman in company first – Source Reuters Tech News

FILE PHOTO: Then South Korean Minister of Strategy and Finance Bahk Jae-wan looks on after attending an interview with Reuters at a hotel in Mexico City November 4, 2012. REUTERS/Henry Romero

SEOUL (Reuters) – Samsung Electronics Co Ltd (005930.KS) said on Friday it has named a non-executive director as board chairman for the first time, to increase transparency and independence.

Former Finance Minister Bahk Jae-wan replaces Lee Sang-hoon who was jailed in December for interfering with union activities.

The appointment, which is effective immediately, comes as Samsung heir apparent Jay Y. Lee and former executives face trial for alleged involvement in a bribery scandal linked to impeached President Park Geun-hye.

Samsung said Bahk, 65, has served as an outside director at the smartphone and semiconductor maker since March 2016 and “has a deep understanding of the company and the board”.

Bahk “has a wealth of experience as an administrator … and is expected to lead the…

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Source Reuters Tech News

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