Samsung boss quits

After the Motorola fiasco, it looks like it’s Samsung’s turn to start making headlines for all the wrong reasons. Head of Samsung, Lee Kun-hee, has resigned from his post after being charged with tax evasion last week, alongside a number of other executives. Other high-ranking Samsung staffters have also handed in their resignations, including the boss’ son.

Lee Kun-hee has been at the head of Samsung for over 20 years now, so there’s no underestimating how big this is for the company. That said, if local press reports are anything to go by, it looks like Lee won’t be relinquishing his hold on the company just yet: according to The International Herald Tribune:

But there was little doubt among many observers about the Lee family’s ability to continue controlling Samsung. The family runs the conglomerates through a network of loyal executives and circular financing that locks the subsidiaries to each other.

Plus ca change.