Samsung Electronics eyes separation in reform plan

Samsung Electronics eyes separation in reform plan
22:46 29 Noyabr 2016
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Baku, November 29, AZERTAC

Samsung Electronics said Tuesday it was considering splitting the company into two as it faces growing pressure to overhaul its governance during a crucial power transfer in top management, according to AFP.

The announcement came as the South Korean electronics giant is seeking to ensure a smooth succession to Lee Jae-Yong, the firm's vice chairman and scion of the parent Samsung group's founding Lee family.

It is also struggling to contain the fallout from a global recall of its Galaxy Note 7 smartphone caused by exploding batteries as well as a snowballing political scandal in South Korea.

The firm said in a statement it would consider breaking into a holding firm and a producing and operating unit, and would take at least six months to study the option.

It also said it would increase its dividend payout to shareholders to more than 4 trillion won ($3.4 billion) this year, up more than 30 percent from a year ago.
AZERTAG.AZ :Samsung Electronics eyes separation in reform plan