October 29, 2018 / 4:02 AM / 17 days ago

Hyundai reshuffles executive ranks after heir apparent Chung's promotion

SEOUL, Oct 29 (Reuters) - Hyundai Motor Co and its affiliate Kia Motors have appointed new heads for global product strategy and design in a management reshuffle after its heir apparent was promoted last month.

The changes come after Euisun Chung was promoted as executive vice chairman in September to a role of overseeing the conglomerate, moving him a step closer to succeeding his octogenarian father as head of South Korea’s second largest group.

They also come days after Hyundai Motor Co announced a plunge in third-quarter net profit that sent its shares tumbling to near nine-year-lows.

Hyundai and Kia have also created a new division dedicated to artificial intelligence, they said in a joint statement on Monday.

Thomas Schemera will oversee their global product strategy, while Luc Donckerwolke will be their design head. Donckerwolke replaces Peter Schreyer, who last month took over a new role as head of design management.

The head of Hyundai Motor’s U.S. operation, Lee Kyung-soo, also stepped down to become an adviser to the company. (Reporting by Hyunjoo Jin; Editing by Muralikumar Anantharaman)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below