FILE PHOTO: The logo of Samsung Electronics is seen at its office building in Seoul, South Korea, Jan. 7, 2019. REUTERS/Kim Hong-Ji/File Photo
SEOUL (Reuters) – Samsung Electronics’ (005930.KS) board Chairman Lee Sang-hoon, who was convicted and jailed for sabotaging union activities, has resigned from the South Korean company, it said on Friday.
The resignation comes less than two years after Lee’s appointment split the chairman and chief executive roles for the first time in an effort to enhance transparency and independence of the world’s top memory chip manufacturer in the wake of a corruption scandal involving group heir Jay Y. Lee.
“Samsung suffered a major setback to its bid to strengthen its board … and it would need a fresh face to turn around,” said Park Ju-gun, head of research firm CEO Score, adding that the move was widely expected given that Lee Sang-hoon is in prison.
Samsung said Lee’s successor will be appointed in the near future and could be picked…
Source Reuters Tech News
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