Attended Compliance Committee's Regular Meeting on the 21st Afternoon
Focus on Rebuilding "Control Tower" Ahead of Personnel Changes
Lee Chanhee: "Necessary to Strengthen Corporate Competitiveness"
On Chairman Lee's Third Anniversary: "Have Not Met Him Yet"
On PSU: "No Illegal or Unfair Aspects Found So Far"
Lee Chanhee, chairman of the Samsung Compliance Committee, once again emphasized the need for a strong "control tower" to enhance Samsung Electronics' competitiveness on the 21st.
Lee Chanhee, chairman of the Samsung Compliance Committee, is answering reporters' questions before attending the regular meeting on the afternoon of the 21st. Photo by Kim Hyungmin
Speaking to reporters as he entered Samsung Life Insurance's Seocho Tower, where the committee's regular meeting was held that day, Lee said, "I believe that a control tower is absolutely necessary for strengthening any company's competitiveness. However, the Compliance Committee will do its utmost to ensure that it does not become a private organization serving only top management, or a risky entity colluding with political circles."
As the year-end personnel season approaches, the business community is paying close attention to whether Samsung Electronics will reorganize and reestablish a "control tower" similar to the former Future Strategy Office. In November last year, Samsung Electronics established a Management Diagnosis Office within Samsung Global Research, which analyzes global market trends and sets the company's management direction. However, most observers agree that this cannot be considered a true control tower.
Lee commented, "I have indirectly heard that Choi Yunho, head of the Business Strategy Office, is working extremely hard. However, the Business Strategy Office does not have as many members as the former Future Strategy Office did. I believe there are human and material limitations. For these reasons, it is difficult to definitively say that it is fulfilling the role of a control tower."
Regarding Chairman Lee Jae-yong, who will mark his third anniversary in office on the 27th, Lee said, "Due to his busy domestic and international schedule, I have not met with him recently. For now, meetings are scheduled with the heads of each task force (TF) in each division. At that time, we plan to discuss matters related to compliance management."
On the performance-linked stock compensation (PSU) system, which the company officially implemented through an internal notice on the 14th and which has since become a point of contention with the labor union, Lee stated, "Personally, after reviewing whether there are any illegal or unfair aspects, I have found none so far. However, since it is still in the early stages, it has not been thoroughly reviewed. If any illegal or unfair elements are discovered in the future, the Compliance Committee will point them out and recommend corrective action."
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