Samsung Council of CEOs to Be Established in July

Samsung Group will disintegrate its Strategic Planning Office by the end of this month and put the Investment Coordination Committee and Brand Management Committee under the wing of the council of CEOs, which will be established in July. Samsung Chairman Lee Kun-hee will retire and become the group’s principal stockholder.

Samsung held its last meeting of CEOs Wednesday at its headquarters in central Seoul. It was then announced that the CEOs had decided on follow-up reform measures and finished their disposition of Strategic Planning Office senior executives.

Samsung’s affiliates will be run independently from July 1. In the meanwhile, the council of CEOs will deal with issues related with investment and overlapping businesses.

The council will be chaired by Samsung Life Insurance Chairman Lee Soo-bin. When he is unable to chair the council, it will be chaired in order by Samsung Electronics Vice Chairman Lee Yoon-woo and Samsung Electronics Vice Chairman Lee Gi-tae.

The Investment Coordination Committee and Brand Management Committee, which will be established under the council of CEOs, are non-standing committees. Members of the two committees will hold a council in the case of pending issues.

The Investment Coordination Committee, which will be chaired by Samsung Electronics Vice Chairman Lee Yoon-woo, consists of Samsung’s seven senior executives such as Kim Soon-taik of Samsung SDI, Kim Jing-wan of Samsung Heavy Industries, Lee Soo-chang of Samsung Life Insurance, Lee Sang-dae of Samsung C&T Corporation, Lim Hyeong-gyu of Samsung Electronics, and Goh Hong-shik of Samsung Total Petrochemicals.

The Brand Management Committee, chaired by Cheil Worldwide CEO Lee Soon-dong, consists of six senior executives such as Kim In of Samsung SDS, Choi Ji-seong of Samsung Electronics, Ji Seong-ha of Samsung C&T Corporation, Kim Nak-hoi of Cheil Worldwide, and Park Joon-hyeon of Samsung Securities.

A service department consisting of 10 employees will be established to provide administrative service for the council of CEOs and assume the responsibility of public relations. Managing Director Kim Jong-hoon will lead the department, and Managing Director Kim Tae-ho and Director Kim Wan-pyo will be in charge of public relations and corporate responsibility issues, respectively.

Vice Chairman Lee Hak-soo, head of the Strategic Planning Office, and CEO Kim In-joo of the Strategic Support Team will step down from management to become advisor and consultant of Samsung Electronics, respectively.

Among members of the Strategic Planning Office, CEO Lee Soon-dong will work for Cheil Worldwide, Vice President Jang Chung-gi for Samsung C&T Corporation, Vice President Choi Gwang-hae for Samsung Electronics, and Vice President Choi Ju-hyeon for Samsung Corning Precision Glass and Vice President Yoon Soon-bong for Samsung C&T Corporation.

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