AP, Seoul :
The chairman of Samsung Electronics Co.’s board of directors, who has been the public face of the company after its de facto chief was jailed on corruption charges, said Friday he will resign next year to make way for a new leader.
“As we are confronted with unprecedented crisis inside out, I believe that time has now come for the company to start anew, with a new spirit and young leadership to better respond to challenges arising in the rapidly changing IT industry,” Kwon Oh-hyun, 65, said in a letter to employees.
Kwon plans to resign as head of Samsung’s semiconductor and component business and will not seek re-election on the company’s board when his term expires in March, Samsung said in a statement.
He has represented Samsung Electronics at various occasions since the company’s heir and vice chairman, Lee Jae-yong, 49, was jailed earlier this year. Lee was convicted on corruption charges to five years in prison in August, along with four other former Samsung executives.
Samsung has two other CEOs, each overseeing its mobile phone business and home appliance division.
The chairman of Samsung Electronics Co.’s board of directors, who has been the public face of the company after its de facto chief was jailed on corruption charges, said Friday he will resign next year to make way for a new leader.
“As we are confronted with unprecedented crisis inside out, I believe that time has now come for the company to start anew, with a new spirit and young leadership to better respond to challenges arising in the rapidly changing IT industry,” Kwon Oh-hyun, 65, said in a letter to employees.
Kwon plans to resign as head of Samsung’s semiconductor and component business and will not seek re-election on the company’s board when his term expires in March, Samsung said in a statement.
He has represented Samsung Electronics at various occasions since the company’s heir and vice chairman, Lee Jae-yong, 49, was jailed earlier this year. Lee was convicted on corruption charges to five years in prison in August, along with four other former Samsung executives.
Samsung has two other CEOs, each overseeing its mobile phone business and home appliance division.
