Hyundai Motor Co. has promoted dozens of executives as part of its strategy to position the business for future growth and “better prepare it for uncertainties in the global business environment,” the company announced Dec. 10.
The moves follow nine high-level executive promotions in November, which included tapping President and CEO Jaehoon Chang as vice chair of Hyundai Motor Group – Automotive Division and naming José Muñoz, president and global chief operating officer and president and CEO of Hyundai and Genesis Motor North America, as Chang’s successor. Both promotions were effective Jan. 1.
The automaker said in last months’ release that a total of 239 executives were promoted throughout the company, including 73 at Hyundai Motor Co., 43 at Kia Corp. and 20 at Hyundai Mobis Co. All promotions were effective Jan. 1.
Hyundai said the executives selected for promotions each delivered “exception results” though whom the company seeks to sustain its long-term competitiveness. It expressed similar sentiment when it promoted Chang and Muñoz to their new respective leadership roles.
The company is looking to its new leaders to maintain its momentum in a cooling global sales environment. In October, Hyundai reported Q3 revenues of 42.93 trillion won ($31 billion), a 4.7% year-over-year increase. While Q3 vehicle sales fell slightly in key markets including Europe, it saw a 10.9% YoY increase in hybrid sales in the U.S.
Key appointments included:
- Seung Jo Lee was promoted to EVP. Lee was CFO and chief strategy officer of Hyundai Motor Co.
- Zayong Koo was promoted to EVP. Koo was formerly head of investor relations of Hyundai Motor Co.
- Seung Jun Kim was promoted to SVP and appointed CFO of Kia Corp. Kim previously served as treasurer of Kia Corp.
- Tae Hun Lee was promoted to EVP of Kia Corp.’s global operations division. Lee was previously team lead at Hyundai Commercial.
- Sujin Ryu was promoted to SVP. Ryu was head of the brand division at Hyundai Card.
Hyundai also filled in other leadership roles throughout its operations, including in electrification, robotics and research and development.
Chang Hwan Kim, head of the Hyundai Motor Group’s electrification energy solutions tech unit, and Dong Hee Han, head of Hyundai Motor Group’s electrified propulsion test center, were both promoted to EVP, and will oversee the development of core technologies.
New vice presidents promoted to lead Hyundai’s research and development include Sihyun Joo, head of the robotics intelligence software team; Mu Shin Kwak, head of eP project group and Kookil Han, head of hydrogen and fuel cell engineering design group 2.
