News Snapshot:
Hong Kong/Seoul CNN Business — Samsung has appointed Jay Y. Lee, its longtime de facto leader, as executive chairman. The move was announced Thursday, making official who would continue to head up South Korea’s most valuable and well-known company. Lee had previously held the title of vice chairman. Samsung’s board, which approved the change, “cited the current uncertain global business environment and the pressing need for stronger accountability and business stability,” the tech giant said in a statement. It comes just months after Lee, the scion of one of South Korea’s most powerful families, was pardoned for crimes including embezzlement...
