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Daniel Oh |
By Lee Kyung-min
Daniel Oh, a corporate governance and shareholder strategies expert with 20 years of experience, has recently joined Samsung Electronics, in what market watchers said Monday was a move to help Vice Chairman Lee Jae-yong become chairman.
Oh is expected to map out a strategy to help Lee regain his status as a registered director of the firm, a position he lost in 2019, due to his conviction in a bribery trial caused by a scandal involving disgraced former President Park Geun-hye.
Lee has since been serving as an unregistered director without remuneration. An unregistered director means he is not a member of the company board but can play a role in the executive decision-making process.
Chief among Oh's strategies will be winning the support and cooperation of institutional investors, while reorganizing the firm's cross-shareholding governance structure, a process likely to be delayed due to activist investors seeking greater shareholder returns and responsible management.
This is a risk scenario for Samsung whose corporate restructuring plans involving sales, and the division and mergers of its affiliates could be frustrated every time they are put up for a vote during general shareholders meetings.
Oh served as the former senior executive at Morrow Sodali, a strategic advisory and shareholder services provider to corporate clients.
He advised Barrick Gold Corp., a Toronto-based mining firm on corporate governance and sustainability as the head of investor relations after working as a vice president at BlackRock, a global leading investment risk management services provider, overseeing corporate governance and responsible investment.
Oh also worked for State Street Global Advisors (SSgA) overseeing shareholder engagement and proxy voting decisions including mergers and acquisitions.
His role involved providing consulting services for global firms on corporate governance and board-related advice at its Institutional Shareholder Services (ISS).