[THE INVESTOR] BMW Korea, the local unit of the Germany luxury carmaker, will carry out a reshuffle soon where CEO Kim Hyo-joon is expected to be appointed as chairman, the company confirmed on Dec. 6.
“This is the first time BMW has opened the chairman’s post at its overseas company. The promotion was based on Kim’s notable management shown,” said the spokesperson of BMW Korea.
BMW Korea CEO Kim Hyo-joon. BMW Korea.
Kim, who has been heading the local unit since 2000, will still maintain his status as CEO until 2020.
Officials from BMW’s headquarters had visited Seoul last month and discussed about the reshuffle.
Han Sang-yun, current head of BMW Malaysia, is widely expected to replace Kim as CEO of the local unit.
The exact date of change and Kim‘s role as chairman have not yet been specified, the company said.
The local unit has grown into a leading import carmaker, posting sales of 48,459 units last year, more than 30 times the figure seen in 2000, the company said.
It has been a hard year for the automaker, with the Ministry of Environment imposing BMW Korea the highest-ever fine for a carmaker of 60.8 billion won ($54.5 million) over sloppy documentation of some 80,000 vehicles last month.
By Kim Bo-gyung/The Korea Hearld (firstname.lastname@example.org)