Samsung Head Resigns Amid Tax Scandal

Lee Kun-hee, the leader of Samsung Group for the past 20 years, has given up his post in light of his recent indictment on tax evasion and breach of trust charges. Lee's son, Jae-yong, will also step down. Samsung said it is dissolving its strategic planning office, which didn't offer enough visibility into the inner workings of Korea's largest company. Samsung is going to give its management more autonomy and end a cross-shareholding arrangement that consolidated Lee's power over the entire company. Lee's family, however, will still retain ownership of Samsung Group.