HD Hyundai promotes founder's grandson to chairman

HD Hyundai Executive Vice Chairman Chung Ki-sun was promoted to chairman Friday, ending three decades of management at the family-owned shipbuilding group by non-family executives. The 43-year-old’s elevation follows his promotion last year to executive vice chairman from vice chairman. Incumbent Chairman Kwon Oh-gap will step down from management after the shareholders’ meeting scheduled for March next year, as the 74-year-old has been named honorary chairman. Following an earlier-than-expected year-end executive reshuffle, HD Hyundai announced the promotion of Chung — one of the grandsons of late Hyundai Group founder Chung Ju-yung and the eldest son of Asan Institute for Policy Studies Honorary Chairman Chung Mong-joon, the group’s largest shareholder. Chung’s father, who entered politics as a lawmaker in the late 1980s, has not been involved in the company's management since then. “The latest executive reshuffle reflects our determination to pioneer a new era under new leadership amid increasingly fierce and diversified global business environments,” an HD Hyundai offiWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times