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MarketScreener Homepage  >  Equities  >  KOREA EXCHANGE  >  Samsung Electronics Co Ltd    A005930   KR7005930003

SAMSUNG ELECTRONICS CO LTD

(A005930)
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Samsung Electronics : jailed board chairman quits

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02/14/2020 | 04:08am EST
FILE PHOTO: The logo of Samsung Electronics is seen at its office building in Seoul

Samsung Electronics' board Chairman Lee Sang-hoon, who was convicted and jailed for sabotaging union activities, has resigned from the South Korean company, it said on Friday.

The resignation comes less than two years after Lee's appointment split the chairman and chief executive roles for the first time in an effort to enhance transparency and independence of the world's top memory chip manufacturer in the wake of a corruption scandal involving group heir Jay Y. Lee.

"Samsung suffered a major setback to its bid to strengthen its board ... and it would need a fresh face to turn around," said Park Ju-gun, head of research firm CEO Score, adding that the move was widely expected given that Lee Sang-hoon is in prison.

Samsung said Lee's successor will be appointed in the near future and could be picked from remaining members of its board, which consists of six external directors and three internal executives. Those include the three CEOs of Samsung's components, mobiles and consumer electronics divisions.

The change at the top comes as Jay Y. Lee faces trial on charges that he bribed a friend of former president Park Geun-hye to win government favour over succession planning at the conglomerate.

Criticized by a judge overseeing Lee's bribery case for its lack of an effective compliance system, Samsung and some of its key affiliates have recently appointed external experts to a new oversight panel to stamp out criminal conduct.

Lee Sang-hoon was given a 1-1/2 year jail sentence in December for sabotaging legitimate union activities. He has appealed against the decision.

Samsung's board chairman is not involved in day-to-day business operations but chairs a board meeting to review and approve major business decisions including investment plans.

The company is expected to hold a shareholder meeting in March.

(Reporting by Hyunjoo Jin and Joyce Lee; Editing by Miyoung Kim and David Goodman)

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Financials (KRW)
Sales 2020 251 866 B
EBIT 2020 38 687 B
Net income 2020 29 606 B
Finance 2020 101 742 B
Yield 2020 2,63%
P/E ratio 2020 13,1x
P/E ratio 2021 9,57x
EV / Sales2020 1 567x
EV / Sales2021 1 422x
Capitalization 394 885 B
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 39
Average target price 69 736,84  KRW
Last Close Price 59 200,00  KRW
Spread / Highest target 38,5%
Spread / Average Target 17,8%
Spread / Lowest Target -8,78%
EPS Revisions
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NameTitle
Hyun-Suk Kim Co-President, Co-CEO & Director
Dongjin Koh Co-President, Co-CEO & Director
Kinam Kim President, Co-CEO & Director
Tae Moon Roh Co-President & Head-Research & Development
Sang-Hoon Lee Chairman
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