The health status of Samsung’s 75-year-old chairman, Lee Kin Hee, has once again turned red, which has caused the Samsung Group’s successor issue to renew attention.
Although the Samsung Group officially did not announce the successor candidate, Li Jianxi’s 45-year-old son, Li Zaiyu, has been regarded as the sole successor. As early as 2012, when Samsung announced that Li Zaijun was the vice president of the group, he had already confirmed his status.
In fact, Li Zaiyu has rarely seen the past few years on behalf of the Samsung Group to participate in various political and economic exchanges. He has been regarded by outsiders as the arrangement for Lee Kin-hee to push him to the forefront.
In the future, the "King of the Crown Prince", who is proficient in Korean, English, Japanese and Chinese, and who needs to have an international vision, will be responsible for the re-engineering of Samsung.
In the 26 years since Li Jianxi was in charge of Samsung, Samsung has grown about 40 times. At present, Samsung Group has become a global company for mobile phones, televisions and semiconductors.
In 2012, Samsung Group’s total sales reached US$245.7 billion, creating approximately 20% of GDP for South Korea. At present, Samsung has more than 420,000 employees and is involved in huge chaebols in various fields such as electronics, machinery, chemicals, textiles and medical care.
But the growing Samsung empire is experiencing performance ceilings, and its core mobile business growth has slowed. Samsung’s first-quarter earnings report showed its operating profit fell for the first time in more than three years.
At the same time, Samsung continues to be involved in legal disputes with Apple and LG in patents, and is subject to Google on the operating system.
Can Li Zaiyu continue to create the brilliant achievements of his father in Samsung? Let this elephant dance lightly, and Li Zaiyu’s pressure and challenge for those who have not yet won the battle are not small.
Li Zaijun under the protection of Li Jianxi: Moderate and modest "diplomatic officer"
As the only son of Li Jianxi, Li Zaiyu has been trained as the future head of Samsung. He was sent to Japan and the United States for study at a very young age, despite years of overseas study experience. But the outside world expressed concern about whether he can control Samsung's ability like his father in the future. In 2009, Li Zaijun was appointed as Executive Vice President and Chief Operating Officer of Samsung Group. Since then, Li Zaiyu has begun to manage Samsung in depth.
However, Samsung’s major decision is still decided by Li Jianxi. From the public information, Samsung’s major transactions and strategies do not have Li Zai’s figure. Perhaps Li Jianxi’s prestige and long-term dictatorship in Samsung have also made Li Zaijun’s father’s “speaking and listening.†Compared with his father’s character, Li Zai’s character is more moderate. "He is a person who respects others and is willing to listen to others' opinions." A senior person in charge of the Samsung Group said: "If someone has a different opinion from the meeting, Li Zaiyu will always listen to each other's opinions first, then elaborate. Your own opinion."
During the work of Samsung Group, Li Zaiyu took on more roles in communicating with the outside world. In the 2011 Jobs Chasing Conference, Li Zaiyu revealed a lot of personal details about him and Jobs. For example, he first received a call from Jobs in the face of difficulties, and during the close cooperation between Samsung and Apple, the two I also had dinner at home. Although Samsung and Apple continued to have friction in patent disputes at the time, Li Zaiqi’s move gained a good impression with Apple’s new CEO, Cook.
Samsung Electronics has publicly evaluated that Li Zaiyu has an international business philosophy and a wide network of contacts. He has responded and coordinated the relationship with competing companies in a fierce international competitive environment, and further strengthened the relationship with the cooperative companies. .
However, the individual advantages have not been recognized by the outside world. The British "Financial Times" reported that investors believe that the success of management rights makes the future of Samsung Group full of uncertainty. “Li Zaiyu’s experience as a CEO is not enough and he does not have the charisma of his father.â€
"After the Li Jianxi era": the shareholding structure will not change
Li Zaiyu, who grew up with the "Golden Key", has experienced the "family heritage competition" with his father, "has been suspected of illegally transferring management rights and tax evasion, and his father was forced to leave Samsung", but Li Zaiyong has always been Growing up under the protection of Li Jianxi.
Samsung's future transformation and organizational restructuring, as well as Li Zaijun's absolute controlling position in Samsung, Li Jianxi has long been prepared for his son.
Since 2013, the Samsung Group has been promoting the restructuring of its subsidiaries. At the end of March this year, Samsung announced the merger plan of Samsung SDI and the first Maozhi. The fifth largest subsidiary of the Samsung Group, which covers the electronics, automotive materials and energy businesses with assets of 15 trillion won, was born. After the merger of the two companies, the top-down system of the electronic domain subsidiaries with Li Zaiwei as the core was completed.
At present, Li Zaiyu has become the third largest shareholder of SDS, a major subsidiary of Samsung Group, with a shareholding ratio of 11.3%. In addition, he holds a 25.1% majority stake in Samsung Everland, a Samsung group holding company. On May 8 this year, SDS announced its listing plan for the year. At that time, Li Zaiyu will receive about 2 trillion won in cash to pay inheritance tax for inheriting Li Jianxi shares or to purchase shares of related subsidiaries.
"The main companies Samsung Electronics and Samsung Life are currently controlled by Li Zaiyu, and most of the group's business is handled by Li Zaiyu, so the Samsung Group's holding structure will not be chaotic or too much change." Relevant person analysis.
The restructuring of the Samsung Group and the simplification of its capital structure will be further accelerated. The Samsung Group plans to completely eliminate the phenomenon of subsidiary chain holdings by 2016, and comprehensively reorganize 74 subsidiaries with Samsung Life, Samsung Electronics and Samsung products as the core.
Challenge: Desalination of father's color drives Samsung's growth
Like Apple in the era of Jobs, Samsung also reached its peak in the hands of Li Jianxi. Jobs’s aura of light shook the industry’s suspicion of the success of Cook’s continued innovation. Similarly, how did Li Zaijun dilute Li Jianxi’s color after taking over Samsung, and let a hardware-based company continue to produce the most advanced products? A major challenge.
At present, consumer electronics encounters a decline in market growth, global TV and smartphone growth slows down, and Samsung's mobile phone business profits have suffered the first decline in three years.
Cui Yunzhi, author of "2030 Bold Future", predicts that "Samsung will face a growth bottleneck after two to three years."
Samsung began experimenting with software and new products, including products such as the wearable Galaxy Gear 2 and Samsung's TIzen operating system, but it has so far been considered a major commercial failure. At the same time, Samsung, a hardware company, is facing the impact of Internet companies such as Google.
As a matter of urgency, Samsung needs to find new investment points. Li Jianxi said in a Samsung internal meeting not long ago that Samsung should remain vigilant. We should look for new businesses that are closely related to the future of the Samsung Group to maintain the growth of the Group's performance.
Rebuilding a Samsung? This will be a big test for Li Zai's long period.
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