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Samsung promotes Lee's son and heir to vice chairman

SAMSUNG-LEE:Samsung promotes Lee's son and heir to vice chairman

Reuters  |  SEOUL  

Electronics Co <005930.KS> has appointed Jay Y. Lee, the son of its chairman Kun-hee, as vice chairman, Group said on Wednesday, moving the chief operating officer and president another step closer to the top.

"As Vice Chairman, will build on his existing responsibilities and take a broader role in managing Electronics' businesses," it said in a statement.

"will continue to play a critical role in transforming Samsung's business model - the set (product) business into one based on a platform and the component business into a total solution provider."

Jay Lee, 44, was thrust into the spotlight in June when then Electronics chief executive Choi Gee-sung, known to be his mentor, was promoted to lead the entire group's strategy, a defacto No.2 role within the group to chairman

Observers said at the time that Choi's move was aimed at preparing a succession plan for Jay

Group was founded in 1938 by Byung-chull, Jay Lee's grandfather, as a small trading company and Electronics which is the jewel in the crown of its vast industrial empire now sells more mobile telephones than any other company.

 

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