Samsung promotes chairman's son and heir to vice chairman
Published on Dec 5, 2012 8:50 AM
SEOUL (REUTERS) - Samsung Electronics has appointed Jay Y. Lee, the son of its chairman Lee Kun-hee, as vice chairman, Samsung Group said on Wednesday, moving the chief operating officer and president another step closer to the top.
"As Vice Chairman, Lee will build on his existing responsibilities and take a broader role in managing Samsung Electronics' businesses," it said in a statement.
"Lee will continue to play a critical role in transforming Samsung's business model - the set (product) business into one based on a platform and the component business into a total solution provider." Jay Lee, 44, was thrust into the spotlight in June when then Samsung Electronics chief executive Choi Gee-sung, known to be his mentor, was promoted to lead the entire Samsung group's strategy, a defacto No.2 role within the group to chairman Lee.
Observers said at the time that Choi's move was aimed at preparing a succession plan for Jay Lee.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here