Boards of Seven Affiliates to Review Next Appointments
Official Decisions Expected at Each Board Meeting in January
Chairman Lee Chanhee Likely to Be Reappointed... Expresses Willingness to Serve Again
The outline of the next Samsung Compliance Committee (Compliance Committee) chairman and member appointments is expected to emerge as early as this month. Incumbent Chairman Lee Chanhee is reportedly a strong candidate for reappointment.
According to the business community on December 16, the boards of directors of the seven Samsung affiliates-Samsung Electronics, Samsung C&T, Samsung SDI, Samsung Electro-Mechanics, Samsung SDS, Samsung Life Insurance, and Samsung Fire & Marine Insurance-will begin reviewing agenda items for the appointment of the next Compliance Committee chairman and members this month.
Following this review, each board is scheduled to vote on the official appointment agenda at meetings to be held in January next year. The fourth term will run from February 2025 to February 2028. The current third term will expire in February next year.
Chairman Lee is expected to lead the committee for a fourth term following his service in the third. After serving as chairman of the second Compliance Committee, which began in February 2022, Lee was successfully reappointed in February last year and is currently serving as chairman of the third term. If reappointed, he will have led the Samsung Compliance Committee for six years.
Prior to the regular meeting of the third Compliance Committee held at the Samsung Life Insurance Seocho office in Seocho-gu, Seoul, Lee met with reporters and stated, "If the company requests (my reappointment), I am personally considering accepting it," expressing his willingness to serve another term.
During the second term of the Compliance Committee, Lee prioritized the restructuring of Samsung's governance as a core task, and selected the establishment of a human rights-oriented management system, the implementation of transparent and fair management, and the practice of ESG (environmental, social, and governance) management as key initiatives. In the third term, he focused on strengthening Samsung's compliance management, particularly around issues such as the revival of the group control tower and improvements to the governance structure.
In particular, Chairman Lee has repeatedly emphasized the need for Samsung Electronics Chairman Lee Jae-yong to return as a registered executive director. Attention is now focused on whether Lee Jae-yong will return to the board as a registered executive director at the shareholders' meeting in March next year. Previously, Chairman Lee stated, "Many Compliance Committee members agree that, from the perspective of responsible management, Lee Jae-yong's return as a registered executive director is necessary," adding, "Personally, I believe his prompt return as a registered executive is important."
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