Samsung Electronics, the crown jewel of the Samsung Group, is expected to conduct its next shareholder meeting on March 24 according to an industry source cited in a new report out of South Korea today. The source claims that Samsung’s board of directors will meet tomorrow to decide on the date and agenda for the company’s annual shareholder meeting.
The board of directors is reportedly going to come up with a response for shareholders over the arrest of the company’s vice chairman and the conglomerate’s heir Lee Jae-yong who was arrested on bribery charges last week and has been in jail ever since. He allegedly played a role in South Korea’s influence-peddling scandal and is said to have given bribes of more than $35 million to win favors from the government.
Shareholders will likely ask questions about the leadership vacuum as well as future strategic decisions that the company is going to take in the absence of its leader. The executives at the annual meeting will certainly have a lot to answer for.