Aware of the consequences of a possible power vacuum at the top, the group is likely to keep most of the current chief executives of its nearly 60 units, although it may choose replacements for two CEOs who have resigned due to the scandal.

"There will likely be a managerial-level revamping, effective on May 1, then a shakeup at the executive level later in the month. Minimal changes are expected in the lineup of chief executives (of Samsung units), though," a source at the group said.

Chairman Lee resigned last week after 20 years at the helm of the country's largest conglomerate, following a corruption investigation which led to his indictment for tax evasion and breach of trust.

The group said that Hwang Tae-seon, the CEO of Samsung Fire & Marine Insurance Co., and Bae Ho-won, the CEO of Samsung Securities Co., also decided to quit after the two firms were found to have participated in the group's illegal activities.

Samsung Group conducts a reorganization of personnel at the beginning of each new fiscal year. This year's shakeup has been delayed due to the investigation.

The conglomerate is expected to announce its final investing and recruiting plans for this year in time for President Lee Myung-bak's meeting with business leaders today.

The group said earlier that it would spend about 25 trillion won ($25.23 billion) this year, 10 percent more than the previous year, and hire more employees than last year's 6,800.

Pledging to start anew and regain public confidence, Samsung started running a TV commercial over the weekend which features its employees working in extreme environments such as the Sahara Desert, Siberia and the Amazonian jungle.

Samsung Electronics Co., a flagship unit of the conglomerate, plans to hold its first investors' meeting since the scandal broke, in cities including New York, London and Singapore from today until May 8.

This article was taken from www.koreaherald.co.kr

April 28, 2008