With Samsung Electronics Vice Chairman Lee Jae-yong joining the board of directors, the country’s largest conglomerate is expected to accelerate the reform of its corporate governance structure, which the market expects will not only help him inherit managerial control but also enhance shareholder value.
Founded by Lee Byung-chul in 1938 as a trading company, Samsung Group has grown into a global giant under the charismatic stewardship of the owner family. The management by the family enabled strategies based on long-term perspectives, unlike hired CEOs who are often tempted to focus on short-term achievements at the expense of long-term benefits.
As the group has grown to its colossal size, however, it has become a complicated issue for …
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