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Samsung chief likely to miss board meeting of EXOR in April

By KH디지털2

Published : Feb. 21, 2017 - 10:04

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Samsung Group's de facto leader, Lee Jae-yong, is likely to skip a board meeting of EXOR, the top investor in Fiat Chrysler, in April as he was arrested over an alleged role in the presidential influence-peddling scandal, a group official said Tuesday.

Lee, the vice chairman of Samsung Electronics Co., has served as one of the outside directors of EXOR, the holding company of Italy's Agnelli family, since May 2012.

EXOR is scheduled to hold its annual meeting of board members on April 5. 

(Yonhap) (Yonhap)

Samsung has yet to make a decision on whether to seek a bail or whether to contest Lee's arrest.

"Following the arrest of Vice Chairman Lee, exchanges with chief executives of foreign firms were suspended," a Samsung official said.

The official expressed concerns that Lee's arrest could have a negative impact on the group's new investment plans.

Lee is also expected to skip some global conferences he had regularly attended before, including an annual Boao Forum in China, group officials said.

Lee, who has denied any wrongdoing, was arrested last Friday over the scandal that led to the impeachment of President Park Geun-hye.

Special prosecutors investigating the scandal accused Lee of paying bribes worth about $40 million among other charges.

Lee has played a key role in the group's important business affairs since his father, Lee Kun-hee, was hospitalized in 2014. (Yonhap)

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