Samsung in crisis after chairman quits
SOUTH Korea's largest business group Samsung faces a leadership crisis after its chairman quit in the wake of a scandal, the acting chairman said today.
"Without a captain or rudder, Samsung now faces a complex crisis, with each unit meeting cut-throat competition independently,'' said Lee Soo-Bin.
"The group was able to ride out a previous crisis together thanks to former chairman Lee Kun-Hee's strong leadership and the guidance of the Strategic Planning Office. Now we cannot do so.''
Special prosecutors this year mounted a three-month probe into corruption allegations against the multinational and charged Lee Kun-Hee in April with tax evasion and breach of trust.
He quit the group later that month after almost 20 years at the helm and is now on trial.
Samsung announced management changes, scrapping the 90-strong Strategic Planning Office. It acted as the "control tower'' of the loose-knit group, which has 59 affiliates, but was implicated in the scandal.