Lee Kun-hee, 72, undergoes surgery after suffering from breathing difficulties that required him to be resuscitated.
The company has to ditch age-old business plans and ideas to remain competitive, Chairman Lee Kun-hee says.
Lee Kun-hee's relatives had been seeking nearly $4 billion in assets he holds in Samsung Group.
Lee Kun-Hee, who led Samsung for 20 years, is giving up his position at the company amid tax fraud accusations, according to Reuters.
Samsung Chairman Lee Kun-Hee was indicted on charges of evading taxes and breach of trust, but was cleared of more serious bribery charges, according to news reports.
Although a three-year prison sentence is suspended, South Korean court rules that Lee Kun-hee must pay a hefty fine, according to an Associated Press report.
Samsung's chairman reckons the company needs to focus more on software in the coming year, and to innovate more.
South Korean electronics giant posts $7.7 billion operating profit, an 18 percent quarterly decline on softening smartphone sales and a one-time employee bonus.
Samsung has moved former Chief Executive Officer Choi Gee-sung into a new role as head of Samsung Group Corporate Strategy.
Samsung wants to be all things to all people. CNET's Shara Tibken went to South Korea to discover how it does just that.