During Samsung’s annual shareholders’ meeting Friday, a man who only identified himself as "Shareholder no. 1814" stormed at Lee for his lavish accommodations and use of private jets on his frequent overseas trips in the past, The Wall Street Journal reported.
The shareholder argued that that money should have been spent on the company’s employees instead. "Chairman Lee probably won’t be able to spend all of his money during his lifetime," he said with a sense of mockery.
Samsung’s vice chairman and co-CEO Kwon Oh-hyun didn't spent much time arguing, quickly dismissing it as "inappropriate," the report said.
This shareholder’s frustration with Chairman Lee may sound like a bit of a stretch, but it’s not hard to see where it’s coming from. Samsung’s latest earnings was a huge disappointment, and its outlook doesn’t stoke much optimism either.
But Samsung is hoping its latest flagship smartphone, Galaxy S6, will revive its sales. The S6 has received some positive reviews, and the company has been making a strong push towards the Internet of Things (IoT) and mobile payments, features that can improve the mobile experience.
In August 2014, Samsung acquired SmartThings, a company focused on connected devices, for $200 million, and just last month, it bought the mobile payments company, LoopPay, for an undisclosed amount.
Samsung shares were up 0.69% to 1.45 million won as of Friday’s closing. That’s roughly an 8% increase since revealing Galaxy S6 on March 1.