SEOUL (REUTERS) - Samsung Electronics said on Friday (Feb 14) that board chairman Lee Sang-hoon, who was sentenced to jail in December for sabotaging union activities, had offered to resign, without elaborating on a reason.
In a statement, the company said the board planned to appoint a new chairman in the near future. The move comes as Samsung is expected to hold a shareholders' meeting in March.
As board chairman, Lee made decisions regarding major business execution while overseeing management activities, according to its regulatory filing.
Samsung Group heir Jay Y Lee is facing trial on charges that he bribed a friend of former president Park Geun-hye to win government favour over succession planning at the conglomerate.
Samsung Group has appointed external experts to a new oversight panel to stamp out criminal conduct.