Samsung Electronics Co. Ltd. announced that its board has nominated Jay Y. Lee, the son of its longtime chairman, to its board of directors. More than two years after the hospitalization of Chairman Kun-Hee Lee, the Board of Samsung Electronics believes that the time is now right to nominate Jay Y. Lee as a member of the Board to allow him to take a more active role in the Company's strategic decision-making. Following Mr. Lee's appointment, Sang-Hoon Lee, who will continue as CFO, plans to stand down from his position on the Board in order to maintain the Board's current structure of four members of the management and five independent outside directors.