Lee Jae-yong, vice chairman of Samsung Electronics, ascended to the position of chairman 10 years after he was promoted to vice chairman in 2012.
Although he had already led the overall management as the group's head, the era of 'Lee Jae-yong's Samsung' opened in earnest as he officially took the title 'Samsung Chairman'.
Samsung Electronics held a board meeting today (27th) and announced that it has decided to promote Lee as chairman.
Vice-President Lee's promotion to chairman does not require the approval of the board of directors, but it seems that the approval process of the board of directors has been passed as he has always emphasized the management of the board of directors.
Accordingly, the new chairman was designated as the same person (head of the Samsung Group) by the Fair Trade Commission in 2018, and took the title of official chairman for the first time in about four years.
It has been two years since his father, the late Chairman Lee Kun-hee, passed away in October 2020, and 31 years since he joined Samsung Electronics in 1991.
(Photo = Yonhap News)