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Leadership crisis facing Samsung, says top executive

Darren Murph
July 2, 2008
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When Samsung Electronics named Yoon-Woo Lee as vice chairman and CEO a few months back, we were hoping that all that rioting and poster burning would subside. Although we haven't heard of any more breakouts of late, things are apparently still rocky on the inside. Lee Soo-Bin, chairman of Samsung Life Insurance and current representative for the Samsung Group, admitted that "without a captain or rudder, Samsung now faces a complex crisis, with each unit meeting cut-throat competition independently." He continued to say that the group "was able to ride out a previous crisis together thanks to former chairman Lee Kun-Hee's strong leadership and the guidance of the Strategic Planning Office, [but] now it could not do so." From the outside looking in, it's a bit tough to really understand what he's getting at, but whatever the case, those are most definitely not the words you want coming from the mouth a head exec.

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