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Samsung vice chairman quits amid leadership ‘crisis’

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Kwon has been the face of Samsung after Jay Y. Lee was arrested and eventually found guilty of bribery and embezzlement. Lee, who was sentenced to five years in prison, apparently bribed officials to ensure that the controversial merger of two Samsung-controlled companies would go smoothly in spite of shareholders’ disapproval. While he was only a vice chairman when he was arrested, Lee was considered the company’s de facto leader after his father, Samsung Chairman Lee Kun-hee, suffered a heart attack in 2014. The younger Lee is responsible for conjuring up the company’s long-term strategic vision.

Samsung had a great quarter, thanks mainly to the increasing demand for memory chips with large storage capacities. The mobile division’s performance also got a boost from Galaxy Note 8’s sales, but we won’t know by how much until the full earnings come out. If the conglomerate wants to top Q3’s profit, though, it has to find a way to solve the “unprecedented crisis” it’s going through.

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