Fresh Off of Parole, Samsung Heir Ascends To Chairman of the Company

An anonymous reader quotes a report from Ars Technica: Samsung Electronics officially has a new executive chairman. The heir to the Samsung empire, Lee Jae-yong (aka Jay Y. Lee), ascended to the throne of the world's biggest chipmaker on Thursday. Samsung announced the move alongside its Q3 2022 earnings report, which it probably hopes will distract from the 23 percent drop in profits compared to the previous quarter. Lee has been the de-facto leader of Samsung for several years now, so his appointment is mostly a formality. The former Samsung chairman and Lee's father, Lee Kun-hee, died in 2020, but before that he was incapacitated for years following a 2014 heart attack. Lee's ascension to chairman has always been expected, but it has been delayed due to Lee's numerous legal issues. [...] The new chairman's legal troubles are not necessarily over. Lee is still facing yet another trial for stock price manipulation and accounting fraud.

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