News Snapshot:
Samsung’s de facto leader, Lee Jae-yong (also known as Jay Y. Lee) has formally stepped into his late father’s shoes. The board of directors of Samsung Electronics approved Lee’s appointment as executive chairman of the company, the South Korean firm said in a brief statement today (Oct. 27) that cited the “current uncertain global business environment” and “the pressing need for stronger accountability and business stability.” Advertisement The top seat had so far eluded the scion of one of South Korea’s most influential families because of a string of corruption probes and jail stints. Now, the 54-year-old is taking the...
