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THE INVESTOR
December 03, 2022

Hyundai Motor Group reshuffles execs in innovative push

  • PUBLISHED :December 15, 2020 - 17:03
  • UPDATED :December 15, 2020 - 17:16
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Chung Euisun, then vice chairman of Hyundai Motor Group, vows to enhance corporate leadership for future markets in his New Year’s Address in January 2020. Chung was promoted from vice chairman to chairman in October. (Hyundai Motor Group)



South Korea’s second-largest conglomerate Hyundai Motor Group on Tuesday named the new chief for its flagship automaker unit, while promoting key leaders in future mobility sectors to affiliates’ top posts.

The latest personnel reshuffle, marking the first of the kind since Chung Euisun was promoted to the group chairman position, was seen as the Korean auto group’s augmented signal to trail its blaze in future growth domains amid prolonged economic challenges and accelerating market trend changes.

Chang Jae-hoon, who until recently served as executive vice president for Hyundai Motor’s domestic sales business and its prestige brand Genesis, was promoted to president and CEO of the country’s top automaker, the group said in a release.

Chang, 56, is expected to add momentum to the group’s drive for innovation and corporate culture paradigm shift, joining existing CEO Lee Won-hee, who will devote time to other specific areas such as value chain development and global business optimization, focusing on future mobility sectors, officials said.

The group also named new top-level executives for other affiliates, including parts maker Hyundai Mobis, builder arm Hyundai Engineering & Construction and automotive engine unit Hyundai Wia.

Taking chair as new president of Hyundai Mobis is Cho Sung-hwan, who has been leading the company’s research and development. In Hyundai Wia, Hyundai Motor’s former procurement unit chief Jung Jae-wook was named as the new CEO. Yoon Young-jun, who formerly managed Hyundai E&C’s housing business unit, was named new CEO.

“The core intent of the latest personnel appointment was to add fuel to the organization’s corporate culture innovation, while enhancing the group’s capacities in future businesses, amid fast-changing management environments,” officials said.

“Leaders who have proven their capacities through successful business performances have been actively promoted in line with the group’s drive for responsibility management.”

As a result, 30 percent of the newly promoted executives came from research and future business sectors, such as urban air mobility, autonomous driving, hydrogen fuel cell and robotics, the group explained.

An example was Shin Jai-won, who was promoted from vice president to president and head of the group’s UAM division. An aviation expert from US space agency NASA, Shin is seen as representing the Korean auto group’s increasing devotion to future mobility visions.

The promotion list also included several relatively young executives in their 40s, as well as five female figures -- one each from Hyundai Motor, Kia Motors, Hyundai Commercial, and two from Hyundai E&C.

By Bae Hyun-jung (tellme@heraldcorp.com)

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