November 26, 2024

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Samsung Electronics Chairman Lee Jae-yong (Yonhap)

Samsung Electronics Chairman Lee Jae-yong is unlikely to seek board membership at the company, as it was not included in the list of agenda items to be discussed in the upcoming general shareholders meeting on March 15.

Samsung held a board of directors meeting on Tuesday to fix the date of this year’s general gathering and three topics to be discussed there, the company said in a press release.

The three agendas are approving of the company's financial statement, appointment of Vice Chairman Han Jong-hee as an internal executive, and setting the limit for remuneration of executives.

The board membership agenda was previously anticipated to be on the list following Lee's ascension to the top seat in November last year. Speculation grew on his possible board membership that is widely seen as a symbolic step for him to take on more responsibility in management.

Lee has not been a board member since October 2019, after he faced charges in connection with a highly publicized influence-peddling scandal involving former President Park Geun-hye in 2017.

Lee was first appointed as a board member in 2016, two years after his late father, former Chairman Lee Kun-hee, was hospitalized after a heart attack.

By Jo He-rim (herim@heraldcorp.com)