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
See Also:
- Samsung chief walks free after prison sentence suspended…
- What does the jailing of its heir mean for Samsung?
