Samsung appoints convicted heir Lee Jae-Yong to the top job
The symbolic move means the world's biggest smartphone maker will now be officially run by the third generation of its founding family.
Mr Lee, convicted of bribery and embezzlement in 2017, was granted a special presidential pardon in August.
He was imprisoned twice for bribing a former president.
"The Board cited the current uncertain global business environment and the pressing need for stronger accountability and business stability in approving the recommendation," the company said in a statement.
The announcement formalises the role Mr Lee –also known as Jay Y Lee - has held since 2014. He took over after his father, the late Samsung Group chairman Lee Kun-hee, was hospitalised. He died in 2020.
The 54-year-old has been vice chairman of Samsung Electronics, the crown jewel of South Korea's most prominent business conglomerate, since 2012.
In August last year, Mr Lee was released from a South Korean prison on parole after serving 207 days in jail.
It was just over half the sentence he received after being convicted in January.
In a statement, then-President Moon Jae-in's office said his release was made in the national interest and asked for understanding.
"We are well aware that there are supporting and opposing views on Vice-Chairman Jay Y Lee's parole. The views of the people opposed are also right," it said.
At the time, the country's Justice Ministry decided to release Mr Lee after considering the effects of the pandemic on South Korea's economy and global markets.
A year later, he was pardoned by the new President, Yoon Suk-you.
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