Lee Sang-hoon, the chairman of Samsung Electronics’ board, has resigned from his position just below two months after being discovered responsible of union sabotage, Reuters reviews. Lee was sentenced to 18 months in jail in December after a court docket dominated that he had violated labor legal guidelines by disrupting union actions at Samsung. The corporate says a brand new board chairman will probably be appointed quickly.
The resignation comes as Samsung Group inheritor Lee Jae-yong (higher generally known as Jay Y. Lee within the west) is going through a retrial over a bribery scandal that has engulfed Samsung execs and South Korea’s former president Park Geun-hye. Lee was beforehand discovered responsible of perjury, embezzlement, and bribery in 2017 and sentenced to 5 years in jail. He was launched on enchantment the next yr. The Samsung Group’s chairman, Lee Kun-hee — Lee Jae-yong’s father and the son of Samsung’s founder Lee Byung-chull — is at present incapacitated following a coronary heart assault he suffered in 2014. Chairman Lee has his personal sordid historical past of convictions and pardons (sure, plural) as head of South Korea’s most well-known chaebol.
The corporate had hoped that Lee Sang-hoon’s appointment two years in the past would enhance transparency on the firm by splitting the board chairman and chief govt roles within the wake of Lee Jae-yong’s corruption scandal, Reuters notes. Regardless of the modifications, Samsung appears to be struggling to maneuver on from its scandalous previous, which you’ll be able to learn all about in our explainer from 2017.