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Samsung executive resigns amid ‘unprecedented crisis’

Jaclyn Jaeger | October 13, 2017

Samsung Electronics announced today that Vice Chairman Oh-Hyun Kwon plans to resign as the company’s head of the Device Solutions Business and will not seek re-election as a member and chairman of the board when his term ends in March 2018. Kwon will also resign as the chief executive officer of Samsung Display.

His decision to resign comes at a time when the company tries to clean up its reputation amidst bribery case. Lee Jae-Yong, Samsung Group’s de facto leader and vice chairman, was found guilty of bribery in August and sentenced to five years in prison for perjury and other charges relating to payments made to South Korea’s ousted president Park Geun-Hye in return for favors, including government support for Jae-Yong’s succession at Samsung, following a heart attack his father suffered in 2014. Jae-Yong currently is appealing his sentence

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