“Beyond the arrest itself, this is going to be a big blow to the narrative they’ve been building,” said Geoffrey Cain, the author of a forthcoming book on Samsung. Mr. Lee, 48, is vice chairman of Samsung, but he has been widely considered the company’s de facto leader since his father, Lee Kun-hee, had a heart attack in 2014. The elder Mr. Lee led Samsung from its roots as a components supplier to a maker of consumer products, establishing a global brand and shedding a reputation for cheap goods. Under the younger Mr. Lee, Samsung has focused again on components, a sector that has benefited from companies wanting to add features to their phones. Advertisement Continue reading the main storyBut Mr. Lee has also pledged to put in place changes to ensure that Samsung’s corporate governance meets international standards.

Source: New York Times January 16, 2017 15:31 UTC