© Stocksak. FILE PHOTO – Jay Y. Lee, Vice President of Samsung Electronics, arrives at a Seoul court on October 26, 2021. REUTERS/Kim Hong-Ji
SEOUL (Stocksak – Samsung Electronics OTC:)’s de facto leader Jay Y. Lee has been appointed executive chairman of Samsung Electronics (OTC :). This symbolic gesture signifies that South Korea’s most valuable company will officially be managed by the third generation from its founding family.
Analysts stated that the change reflects a role Lee held since his father, Lee Kun-hee, the late patriarch of Samsung (KS) Group, died in 2020.
Lee, 54, is vice chairman of Samsung Electronics since 2012.