Former chairman of
South Korea's Samsung Group Lee Kun-hee returned to the position of Samsung Electronics chief, the company said Wednesday, Xinhua reported.
"Former Chairman Lee has decided to return to Samsung Electronics as chairman," Rhee In-yong, chief spokesman at Samsung Electronics, said a press briefing.
According to Rhee, chief executive officers of multiple Samsung businesses held meetings on Lee's return on Feb. 17 and 24 during which they agreed that Lee's experience and leadership were " desperately" needed, citing uncertainties in the global economy.
Contemplating for a month after being requested by Samsung leaders, Lee on Tuesday decided to accept the offer, saying it was a time for start-over.
Ex-chairman Lee resigned from the post after being indicted in April 2008 after being convicted of forcing Samsung SDS, an affiliate of Samsung Group, to sell bonds with warrants (BWs) to his son and daughters at a far below-market price.
Lee, in last August, was sentenced a three-year suspended prison term and a fine of 110 billion won (97 million U.S. dollars) , but was granted a special pardon at the end of last year.
President Lee Myung-bak, as he announced the pardon, cited the need for his aid in hosting the 2018 Winter Olympics in PyeongChang as Lee serves as a member of the International Olympic Committee.