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Dubai News Club > Tech > Grandson of Samsung’s founder takes control of empire as earnings fall
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Grandson of Samsung’s founder takes control of empire as earnings fall

Press Room
Last updated: 2022/10/27
Press Room
Published: October 27, 2022
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Samsung Electronics has appointed Lee Jae-yong — who is known in the West as Jay Y. Lee — as its executive chairman, giving the grandson of the company’s founder formal control, the South Korean tech giant announced today. The announcement came on the same day that Samsung announced a series of disappointing earnings results, as profits fell 23 percent compared to the previous quarter.

According to Samsung’s official announcement justifying the appointment, “the Board cited the…

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