Samsung Names Lee as Vice Chairman in Succession Plan
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Samsung Electronics Co. promoted Lee Jae Yong to vice chairman, putting him a step closer to succeeding his father as leader of the world’s biggest maker of televisions and mobile phones. The shares rose to a record.
The elevation from president and chief operating officer rewards Lee for helping oversee Samsung’s “unprecedented growth” in those businesses, the Suwon, South Korea-based company said in an e-mailed statement today announcing its annual leadership shuffle.