Samsung Group Chairman Could Resign Today

Samsung Group Chairman Lee Kun-hee could tender today his official resignation letter to the board of directors of Samsung Electronics.

A high-ranking Samsung executive said yesterday, “Chairman Lee’s resignation will be part of keeping the promise of the reform plan and is the first official step.”

“Some are skeptical over whether Samsung’s management revamp plan will be carried out, but chief executives including Chairman Lee are strongly willing to implement the plan as quickly and thoroughly as possible.”

The conglomerate will also finalize personnel changes that had been delayed by the independent investigation into Samsung’s slush funds and put its management back on track.

The reshuffle of presidents and executives will be conducted in mid-May. To stabilize management after Lee’s resignation, however, there will be no or few changes of presidents.

The group is expected to temporarily name acting presidents for the positions of Samsung Fire and Marine Insurance President Hwang Tae-sun and Samsung Securities CEO Bae Ho-won, who are to resign due to the result of the investigation, instead of appointing replacements.

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