A major Samsung shareholder has spoken out strongly against the Note 7 incident, suggesting the company to be split into distinct formal and actionable components. In response, the tech giant has announced to hold a conference call at 9:30 A.M on Tuesday to discuss the plan.
Where on the one hand these 11 mind-blowing Samsung Facts and financial report say the otherwise, it seems like the tech giant might bear some aftereffects of Galaxy Note 7 handsets catching fire. The subsequent recalls reportedly caused a conflict of opinion between the Samsung shareholders, possibly suggesting company’s split.
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Samsung is a huge enterprise, and most of its shareholders are also big companies. For instance, Elliot Management Fund, located in NYC, has suggested Samsung’s reorganization into two components: An operational and other to just maintain “ownership” responsibilities. The difference between the two is that the former is going to be the decision-making hand.
The hedge fund owns 0.6% Samsung shares and wants a ‘special dividend’ for Galaxy Note 7 catastrophe in the form of $26B in pay outs. The Korean company is going through a sensitive time, not in terms of overall profits, but in terms of executive changes because a great amount of money went down the drain and the blame is eventually going to land on a certain people.