Samsung Electronics Co. officially appointed Lee Jae-yong as its executive chairman, formalizing the all-encompassing leadership role he has long played at South Korea’s largest business. The 54-year-old, Lee has been vice chairman of Samsung Electronics, the crown jewel of South Korea’s biggest business conglomerate, since 2012. He takes over a position previously held by his father, Lee Kun-hee, who died two years ago after being incapacitated by a 2014 heart attack.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
The appointment comes as Samsung, the world’s biggest maker of memory chips and smartphones, faces mounting business headwinds amid a sharp downturn in worldwide tech demand, caused by soaring inflation, interest rates and a gloomy economic outlook. Samsung reported a 31% drop in third-quarter profit and said geopolitical uncertainties were likely to dampen demand until early 2023, as the global economic downturn slashed appetite for electronic devices.
Important takeaways for all competitive exams:
From the sprawling plains of the Midwest to the sun-kissed shores of the Pacific, the…
The Indian political landscape has lost a seasoned leader with the passing of V. Srinivas…
The Badminton World Federation (BWF) has announced that India will host the prestigious 2025 BWF…
In the mosaic of American cities, certain urban centers stand out as bastions of liberal…
In a remarkable achievement, ICICI Bank has etched its name among India's top five companies…
The Government of India has introduced a Floating Rate Bond (FRB) maturing in 2034, with…