To say Samsung is experiencing a leadership crisis is an understatement. The company's chairman is incapacitated, the de facto leader is in prison and the conglomerate's powerful strategy group has been disbanded. The new appointees are Kim Ki-nam for components, Kim Hyun-suk for consumer electronics and Koh Dong-jin for the mobile division. In addition to a personnel shake-up, Samsung said it is looking to separate the roles of board chairman and CEO for the first time. Both roles were previously held by Kwon Oh-hyun, who is a co-CEO.
In this Thursday, Oct. 12, 2017 photo, a visitor is silhouetted in front of a huge screen showing an image of Samsung Electronics' smartphones in Seoul, South Korea. Samsung Electronics says Friday, Oct. 13, 2017, its third quarter profit likely surged nearly three folds over a year earlier to a new record high.
His Samsung Electronics stake, albeit below one percent, is now worth 2.3 trillion won ($2.0 billion). Lee also received at least 11.8 billion won ($10.5 million) in dividends from Samsung Electronics during his detention, and 837 million won in pay during the first half of 2017. He owns stakes in other Samsung affiliates.
A visitor tries out a Samsung Electronics Galaxy S7 Edge smartphone at its shop in Seoul, South Korea, Friday, Oct. 14, 2016. Samsung Electronics said Friday that the discontinuation of the Galaxy Note 7 would cost the company about 3 billion during the current and next quarters, bringing the total cost of the recall to at least 5.3 billion. The company said it will expand sales of two other smartphones released in spring, the Galaxy S7 and Galaxy S7 Edge, quashing rumors that it may try to release updated versions of those devices.