Samsung Group on Wednesday named the son of its leader as vice chairman of the flagship Samsung Electronics Co, moving the heir apparent of South Korea's largest family-owned conglomerate one step closer to the top position.
Lee Jae Jong, 44, has been president of Samsung Electronics for two years, and seen the company post record earnings thanks in part to strong mobile phone sales.
In the conglomerate's complex senior management structure, he is also the group's operations chief.
The group is currently headed by Lee's father, 70-year-old chairman Lee Kun Hee, himself the son of Samsung founder Lee Byung Chull.
Samsung is the world's biggest maker of computer memory chips, liquid-crystal display panels and smartphones.
Most Popular Stories
- Accenture Gets 8 Percent Bump in Q1
- Lockheed Martin Ends Gifts to Boy Scouts Over Gay Ban
- Texting With Vodka: Booze and Social Media Can Mix After All
- Menendez Pushes for Iran Sanctions
- Stripped-Down Defense Bill Creates Winners, Losers
- Debt Ceiling Looms Again as Deadline Approaches
- Mazda Leads the Pack for Fuel Efficiency
- Deportation Threat Looms Larger Than Citizenship Among Hispanics
- How to Protect Yourself After Target Data Breach
- Senate Nears Approval of Defense Bill