Now this is how shareholders should respond to bad corporate leadership. Quothe the AP:
Lee said Tuesday he was stepping down after 20 years as chief of South Korea’s biggest conglomerate, quitting in the aftermath of his indictment on tax evasion and other charges last week. Kim claimed last November that the Samsung Group had 200 billion won (US$205 million, euro130 million) in a slush fund and used it to bribe prosecutors and judges.
Samsung is very nearly a state company in South Korea, so this sort of political-grade outrage is catalyzed by the same sort of feelings of betrayal one might feel if their elected official did something this heinous.
South Korea Samsung [Foto.Rompres.ro]
Image: AP Photo/Ahn Young-joon