Under pressure: Lee and Samsung Electronics are facing rising pressure from investors for broad change at South Korea’s most valuable company. – Reuters
SEOUL: Samsung Electronics Co and heir apparent Jay Y. Lee are facing rising pressure from investors for broad change at South Korea’s most valuable company.
Samsung executives and Elliott Management Corp have been talking with investors in the US and Korea to sound out opinions on the activist investor’s proposals to overhaul the Suwon, South Korea-based technology giant, people familiar with the matter said. Shareholders are voicing dissatisfaction with the status quo after Samsung’s smartphone battery crisis that will cost at least US$6bil and has seen its offices raided twice as part of a widening political scandal in Korea.
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