Samsung Heir Apparent Jay Y to Join Board as Note 7 Crisis Deepens

Samsung heir apparent Lee Jae Yong has been nominated to the board, teeing him up for a bigger role as South Korea’s largest company struggles with a widening recall of its Note 7 smartphone.
Mr. Lee, better known as Jay Y., has been helping run Samsung since his father suffered a heart attack in 2014. Now the scion will have to show if he has the mettle to help steer the company through its deepest crisis in years. Jay Y.’s board nomination “is a signal that Samsung needs strong leadership in the midst of risk and uncertainty,” said Park Ju Gun, president of corporate watchdog CEOSCORE in Seoul. “By showing the markets that he’s assuming responsibility, Lee Jae Yong may be seeking to take a step forward in the succession.”