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At Samsung Electronics, Lee Signals More Board Power In Nod To Investors

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy

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Jay Y. Lee, the only son of Samsung Electronics chairman Lee Kun-hee and the company's vice chairman, attends the 2015 HO-AM Prize ceremony in SeoulBy Se Young Lee SEOUL (Reuters) - Jay Y. Lee, de facto head of South Korea's sprawling Samsung Group, accelerated taking a board seat at flagship unit Samsung Electronics partly because of investor pressure to improve governance, two people familiar with the matter said. Samsung Group narrowly survived a bid by U.S. activist hedge fund Elliott Management last year to block a controversial merger of two group businesses, Samsung C&T and Cheil Industries. The deal sparked criticism that the Lee family put its interests ahead of those of shareholders.




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