Samsung Electronics Appoints Lee Jae-Yong as Executive Chairman

Samsung Electronics announced that it has officially appointed third-generation heir Lee Jae-Yong as executive chairman. Lee’s promotion is partially symbolic as he has helmed the Samsung group in his capacity as the electronics company’s vice chairman since 2014. The 54-year-old is now navigating one of his toughest stretches as the leader of one of the world’s large makers of computer memory chips and smartphones. 

Samsung is a major manufacturer of electronic components such as lithium-ion batteries, semiconductors, image sensors, camera modules, and displays for clients such as Apple, Sony, HTC, and Nokia and is the world’s largest manufacturer of mobile phones and smartphones.