Samsung promotes chairman’s son to vice chairman

Samsung Electronics Co. promoted its chairman’s only son to vice chairman, putting the 44-year-old closer to the top leadership position at the world’s largest maker of memory chips, mobile phones and TVs.

Samsung, South Korea’s largest industrial conglomerate, announced Jay Y. Lee’s promotion to vice chairman just two years after he was named president. He assumes his new post Wednesday.

Samsung said that Lee, who was also chief operating officer, had contributed to the growth of its smartphone and TV businesses.

via Business feed http://www.scmp.com/business/companies/article/1098005/samsung-promotes-chairmans-son-vice-chairman