Samsung delays banquet marking chairman’s edict

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Samsung delays banquet marking chairman’s edict

Samsung has postponed a banquet to celebrate the 20th anniversary of Chairman Lee Kun-hee’s proclamation of wide-scale management overhaul from Friday at Hotel Shilla to Aug. 23.

The group cited the nationwide power shortage as a reason, given the country is on the verge of blackouts as the demand for electricity is expected to culminate this week. About 400 executives at vice-presidential level and above across Samsung affiliates are likely to be invited.

Chairman Lee in 1993 told Samsung employees to “change everything except wives and children” to revitalize the management while in Frankfurt on a global tour. He is expected to create a renewed management agenda or slogan to sustain the conglomerate’s growth momentum at the upcoming event.
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