Stefan Mileschin

Can't attend meetings for a year and a half due to a bad case of jail

Samsung Chairman Lee Sang-hoon, who was convicted and jailed for sabotaging union activities, has resigned from the South Korean company.

The move should not be a surprise given that Lee Sang-hoon and can hardly be expected to attend board meetings, but this is not necessarily logical in Korea. Lee Sang-hoon was given a 1-1/2 year jail sentence in December for sabotaging legitimate union activities. He has appealed against the decision.

The resignation comes less than two years after Lee’s appointment split the chairman and chief executive roles for the first time in an effort to enhance transparency and independence of the world’s top memory chip manufacturer in the wake of a corruption scandal involving group heir Jay Y. Lee.
Samsung said Lee’s successor will be appointed in the near future and could be picked from remaining members of its board, which consists of six external directors and three internal executives. Those include the three CEOs of Samsung’s components, mobiles and consumer electronics divisions.

https://fudzilla.com/news/50308-samsung-boss-quits