Smoke signals

12 September 2016 By Robyn Mak Follow @mak_robyn

Jay Y. Lee, son of the Korean technology group’s chairman, is joining the company’s board of directors. Lee already pulled strings, but from a less visible position. As the company deals with a rash of smartphones catching fire, this gesture towards transparency is helpful.

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Samsung Electronics on Sept. 12 said it has nominated Vice Chairman Jay Y. Lee as a member of the board. Lee is the son of Chairman Lee Kun-hee, who was hospitalised after suffering a heart attack in 2014.

The company said that by taking an official position as a member of the board, Lee will be allowed to take a more active role in the company's strategic decision-making. However, Lee has been widely considered the leader of the Samsung group since 2014, even though he had not taken any official board seats or executive roles at various Samsung affiliates.

Shareholders will vote to approve the nomination on Oct. 27. Investors will also vote to approve the divestment of Samsung's printing business unit to HP Inc., also announced on Sept. 12.

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