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Samsung faces long-term challenge as chief gets five-year stretch

Pressure is on Korean conglomerate to change after trial “Lee Jae-yong, the de facto leader of Samsung, will probably get a presidential pardon and will be back at the company, promoted to chairman, in no time,” said Geoffrey Cain, author of an upcoming book on the Korean conglomerate. By Bryan Harris Financial Times Aug 26, 2017

Samsung faces long-term challenge as chief gets five-year stretch

By Bryan Harris
Financial Times
Aug 26, 2017 

 

Pressure is on Korean conglomerate to change after trial

“Lee Jae-yong, the de facto leader of Samsung, will probably get a presidential pardon and will be back at the company, promoted to chairman, in no time,” said Geoffrey Cain, author of an upcoming book on the Korean conglomerate.

“The scenario I envision is that Samsung announces the death of his father, chairman Lee Kun-hee, and uses it to garner sympathy for a pardon. Our beloved leader, the man who built the company and nation, is dead! . . . We call upon the president to pardon his son, so he may become chairman and save us!” said Mr Cain.

“Shareholders, regulators and Samsung can all agree on forming a holding company. It will allow for a more formal governance structure, where people’s roles and orders are clearer. It will also solidify control under Mr Lee, giving him a stronger entity to issue orders,” said Mr Cain.

Read more about the conviction and jailing of Samsung’s de facto leader Lee Jae-Yong on corruption charges at Financial Times

 

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Samsung faces long-term challenge as chief gets five-year stretch

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