New exec VPs named at Hyundai Motor Group for smooth leadership shift

Article by Christian Andrei, on January 3, 2015

The Hyundai Motor Group is preparing for the eventual shift of power at its top post by promoting three people to executive vice president positions. Despite no indications that chairman Chung Mong-koo is stepping down from his post, analysts see the promotion as a way to help smooth a leadership succession -- especially since one of those promoted, Cho Won-hong, was handpicked by heir apparent Chung Eui-sun, as sources privy with the matter told Reuters.

Hyundai promoted Cho, currently its chief marketing officer, as well as domestic public relations chief Kong Young-woon, as executive vice presidents. Kia, meanwhile, named Kim Gyun as executive vice president.

Chung Sun-sup, head of local research firm Chaebul.com, remarked that the focus on the management reshuffle at the carmakers should be on executive vice presidents, as they are the ones who the next leader.

"The promotion of young executives should pave the way for the future of the junior Chung," he said. Eui-sun is the chairman’s only son and the group’s vice chairman.

According to Lee Hang-koo, a senior researcher at the Korea Institute for Industrial Economics and Trade, carmakers are “injecting younger blood” into their organization to cope with “a paradigm shift and lead innovations."

Topics: hyundai

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Your 2017 Volkswagen Golf Facelift could get as sporty looking as the Golf R with the new R-Line packages. But without the sporty run and the premium price. Set to...
by - January 17, 2017
Whether or not you’re a tech addict, you realize that the digital revolution is now moving at high speed. Before you know it, there’s already a new one on the...
by - January 17, 2017
We really couldn’t deny that quite a number of Audi customers and would-be-buyers are intently waiting for higher performance RS versions of the Audi A4 and A5. Of course, these...
by - January 17, 2017
The Chevrolet Cruze is coming to Australia. But it won’t be known as the Chevrolet Cruze. Instead, it will bear the Holden badge and get the Astra moniker. The 2017...
by - January 17, 2017
As expected, four years after the current generation of the BMW 4 Series was introduced in 2013 with the BMW 4 Series Coupe, the German premium carmaker is implementing a...
by - January 17, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries