Samsung’s jailed board chairman resigns in wake of conviction

Lee Sang-hoon has quit as the chairman of Samsung’s board and will be replaced in the near future….

gettyimages-1197491294

Samsung’s board chairman is out.

JUNG YEON-JE/AFP via Getty Images

Samsung Board Chairman Lee Sang-hoon has resigned following his conviction for violating labor laws and attempting to sabotage labor union activities, according to a Reuters report.

In December 2019, Lee was one of 26 Samsung executives convicted by a court in Seoul. He was sentenced to 18 months in prison, but appealed his sentence.

Lee had been in the post of board chairman since March 2018 and previously served as the company’s financial officer. He was appointed as part of an effort by the South Korean company to be more transparent following a corruption scandal involving the company’s heir apparent, Jay Y Lee.

Samsung told Reuters that Lee’s successor will be appointed in the near future. Possible candidates include the company’s remaining board directors or internal executives, including the CEOs of its various technology divisions.

Representatives for Samsung did not immediately respond to request for comment.

Live Updates for COVID-19 CASES