Jay Y. Lee will now run Samsung as Executive Chairman

Today, Samsung officially announced the appointment of Jay Y. Lee as Executive Chairman of Samsung Electronics. By appointing Jay Y. Lee as Executive Chairman, Samsung will take benefit from his organizational knowledge and experiences for the businesses.

According to the newsroom post, Samsung Electronics’ Board of Directors approved the appointment of Jay Y. Lee as Executive Chairman. The board authorized the appointment of Jay Y. Lee, which was recommended by Independent Director and Board Chairman Han-Jo Kim.

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Seeing the current uncertain global business environment and the pressing need for stronger accountability and business stability, Samsung Electronics’ Board of Directors approved the recommendation to appoint Jay Y. Lee as Executive Chairman.

It is a symbolic move by Samsung Electronics confirming that the Korean tech giant will be officially run by the third generation of its founding family. It’s worth noting that Lee has been vice chairman of Samsung Electronics, since 2012.

| Source/Image – Reuters |