Samsung Electronics says won't be able to nominate new outside director for AGM

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Employees walk past a building of Samsung Electronics in Seoul, South Korea, November 8, 2016. REUTERS/Kim Hong-Ji (Copyright Reuters 2017)

Tech giant Samsung Electronics Co Ltd said on Friday it will not be able to nominate a new outside director for a vote in the annual shareholder meeting set for March 24 due to uncertainty generated by "current circumstances" in South Korea.

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Samsung had said in November it plans to nominate at least one new board member with "global C-Suite experience" for this year's shareholder meeting as part of its efforts to improve corporate governance. The company said on Friday its search for nominees are continuing.

(Reporting by Se Young Lee; Editing by Muralikumar Anantharaman)