Shin Je-yoon, former Financial Services Commission chairman, is reportedly the leading candidate for the chairman of Samsung Electronics' board of directors. Samsung Electronics will hold a board meeting on the 18th to discuss the nomination of internal and external director candidates to be presented at the regular shareholders' meeting next month. The board plans to convene again after the shareholders' meeting to elect the next chairman.
Shin, a former economic official, is regarded as well-versed in domestic and international economic and financial issues. During his bureaucratic career, he was in charge of international finance and also has experience working at international organizations. Shin joined Samsung Electronics as an outside director in March last year.
If Shin is appointed as the chairman of the board, Samsung Electronics' ability to respond to global financial and economic risks is expected to be significantly strengthened. Drawing on his experience as an International Monetary Fund (IMF) director and Financial Services Commission chairman, he is likely to enhance the company's response to semiconductor and battery regulations in the U.S. and Europe and contribute to minimizing Samsung Electronics' global policy risks.
Furthermore, large-scale investments and M&A strategies related to future industries such as semiconductors, AI, and batteries, which Samsung Electronics is actively pursuing, are expected to be more finely tuned. As a financial and policy expert, Shin is likely to have a positive impact on attracting investments and improving financial stability by leveraging his network in global capital markets.
Additionally, Shin has extensive experience cooperating with financial authorities, which could strengthen Samsung Electronics' shareholder-friendly policies, such as dividend increases and share buybacks. In particular, the board's role is expected to expand in terms of enhancing ESG (environmental, social, and governance) management and securing trust from global investors.
The Samsung Electronics board is likely to undergo significant changes. The current chairman, Kim Han-jo, former chairman of Hana Financial Nanum Foundation, will complete his maximum six-year term as an outside director next month. Outside director Kim Jun-sung, chief investment officer (CIO) of the National University of Singapore Endowment, and internal directors No Tae-moon, head of the Mobile Experience (MX) division, and Lee Jung-bae, advisor, are also approaching the end of their terms next month. Formerly returning in May last year, Jeon Young-hyun, head of the Device Solutions (DS) division and memory business unit, is expected to be newly appointed as an internal director. Director No is highly likely to be reappointed.
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