South Korea's Samsung young lord Lee Jae-yong has been actively carrying out company reform since he was released on early parole in August last year, especially in terms of personnel structure, not only abolishing the annual work sequence salary system for ordinary employees, creating a new corporate culture that emphasizes competence and professionalism, but also reorganizing Samsung's senior management. But the plan is currently being opposed by the group's second-largest shareholder.
In terms of high-level restructuring, Lee Jae-yong simplified the original three major business units of semiconductors, consumer electronics and mobile communications into two departments of consumer electronics and semiconductors (mobile communications was merged into the consumer electronics department), and the executive directors of the original three major departments were all removed, the new consumer electronics department was led by Han Zongxi, ceo and vice chairman, and the new semiconductor division was led by CEO Qing Guixian.
Today, South Korean media reported that NPS (South Korea Public Pension Fund National Pension Group), the second largest shareholder with 8.53% of Samsung's shares, announced that it will vote against Kyung Gye-hyun, who was appointed ceo of the new semiconductor division, at the Samsung shareholders' meeting held next Wednesday (March 16).
NPS said that Qing Guixian himself has a history of damaging corporate value and infringing on the rights of shareholders.
However, NPS has not disclosed what specific matters QingGuixian has infringed on corporate value and shareholder rights. In addition to this, NPS also opposes park Kek-kyu, former chief operating officer of Samsung SDS, and Han Qiaojin, the current outside director who is about to extend his term, to continue to become a member of Samsung's board. But NPS will support Mr. Lo, who is now president and head of the smartphone business, as the new board member.
It is reported that Samsung Group will hold an annual shareholders' meeting on March 16, and the proposals have also entered the electronic voting link on March 6, and the voting link will end on March 15, when Qing Guixian, Park Kekui, Han Qiaojin, Lu Tae-moon and others must obtain at least half of the votes to enter the board of directors of Samsung.
Samsung young lord Lee Jae-yong's personnel layout originally wanted to create a new Samsung era, after all, from the development history of Samsung, it can be seen that before the 21st century, tv brought huge wealth to Samsung, and in 2010, smart phones became Samsung's main financial income, but in recent years, semiconductors have contributed the most lucrative financial data and profits to Samsung.
Lee's active reform is to cope with a series of challenges, such as TSMC's most important opponent in the semiconductor field, so the new CEO needs to lead the semiconductor department to enhance its business competitiveness, especially in terms of advanced chip processes to catch up with TSMC. At the same time, in terms of smart phones, it is also necessary to actively compete with various mobile phone manufacturers in China. However, the current personnel layout has been disrupted by the second largest shareholder, and it is not known whether Lee Jae-yong can eventually lead Samsung out of the predicament.