Jay Y Lee named as Executive Chairman of Samsung Electronic: Samsung Electronics Co. officially appointed Lee Jae-yong as its executive chairman, formalizing the all-encompassing leadership role he has long played at South Korea’s largest business. Lee, 54, has been vice chairman of Samsung Electronics, the crown jewel of South Korea’s largest business conglomerate, since 2012.His father, Lee Kun-hee, who died two years ago after being disabled by a heart attack in 2014, took over a position he previously held.
October 2022 Current Affairs Quiz
Present business condition of Samsung Electronics:
The appointment comes as Samsung, the world’s biggest maker of memory chips and smartphones, faces mounting business headwinds amid a sharp downturn in worldwide tech demand, caused by soaring inflation, interest rates and a gloomy economic outlook. Samsung reported a 31% drop in third-quarter profit and said geopolitical uncertainties were likely to dampen demand until early 2023, as the global economic downturn slashed appetite for electronic devices.
About the Samsung Electronics Co:
- Samsung Electronics Co., Ltd. is a South Korean multinational electronics corporation headquartered in Yeongtong-gu, Suwon, South Korea. In 2012, it generated 70% of the group’s revenue, making it the apex of the Samsung chaebol.
- Samsung Electronics has played a key role in the group’s corporate governance due to circular ownership. Around 290,000 people are employed by Samsung Electronics, which has assembly plants and sales networks in 74 nations. It is majority-owned by foreign investors.
- As of 2019, Samsung Electronics is the world’s second-largest technology company by revenue, and its market capitalization stood at US$520.65 billion, the 12th largest in the world. Samsung is a significant producer of electronic parts for companies like Apple, Sony, HTC, and Nokia, including lithium-ion batteries, semiconductors, image sensors, camera modules, and displays.
- Emami signs up Akshay Kumar as brand ambassador for BoroPlus cream
Emami signs up Akshay Kumar as brand ambassador for BoroPlus cream – FMCG major, Emami Ltd has appointed Bollywood actor Akshay Kumar as the new brand ambassador for its BoroPlus ayurvedic antiseptic cream. BoroPlus is one of Emami’s many power brands Other power brands include Navratna, Fair & Handsome, Zandu Balm, Mentho Plus, and Kesh King.
- Emami appoints brand ambassadors to advertise its products. The brand ambassadors include Amitabh Bachchan, Shah Rukh Khan, Salman Khan, Hrithik Roshan, Shahid Kapoor, Ayushman Khurana, Madhuri Dixit, Juhi Chawla, Katrina Kaif and Kareena Kapoor Khan.
- BoroPlus’s healing, antiseptic and moisturizing properties make it a perfect antiseptic cream, lip cream, foot cream, 24 hours moisturizer, night cream, and winter cream.