On Thursday (October 27), Jay Y Lee was named as executive chairman of Samsung, confirming that the billion-dollar company will be run by the third generation of the founder family.

Samsung appoints heir and ex-convict Jay Y Lee executive chairman as losses mount

There is a leadership crisis in Samsung. South Korea has sentenced Samsung's heir and Vice Chairman Jay Y Lee to two and a half years in prison. What happens to the world's largest smartphone maker?

Gravitas: South Korea jails Samsung's heir

Koo, 73, had been ill for a year, LG Group said in a statement

LG Group chairman Koo Bon-moo dies from illness at 73

Jay Y Lee is on trial on charges including bribery and embezzlement in a scandal that led to the ouster of President Park Geun-hye

Samsung heir accused of bribery, perjury as trial opens

They will also decide whether to seek arrest warrants against other Samsung Group executives, spokesman for the special prosecutor said

South Korea prosecutor to decide on Samsung leader's arrest warrant on Monday

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Samsung appoints heir and ex-convict Jay Y Lee executive chairman as losses mount

Gravitas: South Korea jails Samsung's heir

LG Group chairman Koo Bon-moo dies from illness at 73

Samsung heir accused of bribery, perjury as trial opens

South Korea prosecutor to decide on Samsung leader's arrest warrant on Monday