Samsung appoints Jay Y. Lee as Executive Chairman

Samsung has announced Jay Y. Lee as as its executive chairman.

The company’s board of directors announced the development on Wednesday., CNET reports.

The development came barely two months after Lee was granted a presidential pardon for his role in a corruption scandal that rocked South Korea.

The appointment was granted due to “the current uncertain global business environment and the pressing need for stronger accountability and business stability,” the board said in a statement.