Join us on Telegram | Early Samsung Black Friday deals, check them out right now!

SamMobile has affiliate and sponsored partnerships. If you buy something through one of these links, we may earn a commission. Learn more.

Samsung may address lack of gender diversity by adding female independent directors to its board


Last updated: October 18th, 2016 at 10:58 UTC+01:00

Lack of gender diversity in global business is routinely pointed out as a big problem that needs to be fixed. Activist investor hedge fund Elliott Associates recently pointed out a lack of diversity on Samsung Electronics’ board as part of its restructuring proposal for the company and Samsung is now said to be considering adding female independent directors to its board. The conglomerate’s Future Strategy Office has reportedly conducted studies on the number of outside board members each of its affiliates has, their area of expertise as well as their reason for appointment and tenure.

Samsung Electronics – the conglomerate’s cash cow – has a severe lack of diversity as all five independent directors are male. Ewha Women’s University professor Kim Eun-mi was appointed as the company’s first female director in 2013 but she was succeeded by Sungkyunkwan University professor Park Jae-wan after her term ended this year. The lack of diversity is apparent at other affiliates as well. Only three of the 15 listed companies operating under the Samsung Group have independent female directors.

Samsung has a lot of time on its hands to come up with a strategy that addresses the lack of diversity on Samsung Electronics’ board unless it’s willing to increase the number of seats. No independent board member will see their term end before March 2018 so Samsung has a couple of years to chalk out a strategy and be ready to put it in motion when the time comes.

Source General Samsung Group
Load 1 comments

You might also like

Samsung holds retirement ceremony for guide dogs, rehomes new puppies

Samsung Group has a hand in almost every corner of the market, from smartphones and TVs to medicine and cargo ships. Galaxy smartphone users aren’t generally aware of the company’s reach, but Samsung is a conglomerate that makes a lot of technological advancements possible in and outside of South Korea. However, not everything Samsung does […]

  • By Mihai Matei
  • 2 months ago

Samsung heir Lee Jae-yong pardoned by South Korean President, gets cleared of bribery charges

Samsung Electronics Vice Chairman Lee Jae-yong received a huge relief today. The President of South Korea, Yoon Suk Yeol, pardoned Lee on the occasion of next week’s Liberation Day anniversary in the country. Lee Jae-yong can now formally take control of South Korea’s largest conglomerate. Earlier, Lee was sentenced to 2.5 years in prison after being […]

  • By Asif Iqbal Shaik
  • 3 months ago

BREAKING: Samsung boss Lee Jae-yong granted parole, will be released on Friday

Samsung Group’s leader, Lee Jae-yong, was sent to jail a few months ago on bribery charges. However, it was being speculated that he may be pardoned by the South Korean president sometime in August. Now, it is being reported that Lee has been granted parole, which means that he will soon be released from jail. Lee […]

  • By Asif Iqbal Shaik
  • 1 year ago

Is Samsung a Korean company? A short history of the global giant

Samsung is one of the world’s largest technology companies. At $197.7 billion, it ranked second on Fortune’s list of the largest tech companies by revenue in 2020. Samsung is a truly massive conglomerate with a worldwide presence and almost 300,000 employees across the globe. Most of the companies on that list are from the United […]

  • By Adnan Farooqui
  • 2 years ago

Samsung donates $24.6 million to contain coronavirus in South Korea

In an exemplary display of corporate social responsibility, Samsung Group has announced that all of its affiliates will donate a combined 30 billion won or $24.6 million to support the South Korean government in its efforts to contain the spread of the coronavirus infection in the country. South Korea is one of the countries dealing […]

  • By Adnan Farooqui
  • 3 years ago

Forbes names Samsung Group among top five influential Asian firms

The US-based business magazine Forbes has named Samsung Group among the top five influential firms in Asia. The South Korean consumer electronics giant has been named among firms like China’s Alibaba, India-based HDFC Bank, Sony, and Toyota, thanks to its achievements in the technology segment. Forbes mentioned that the companies it listed as the top […]

  • By Asif Iqbal Shaik
  • 5 years ago