Chung Euisun Appointed Chairman of Hyundai Motor Company Board of Directors

Chung Euisun, Executive Vice Chairman of Hyundai Motor Company. / Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Kiho Sung] Chung Euisun, Vice Chairman of Hyundai Motor Group, has been appointed as the chairman of Hyundai Motor's board of directors.

According to industry sources on the 19th, Hyundai Motor held a board meeting immediately after the 52nd regular shareholders' meeting at its headquarters in Yangjae-dong, Seoul, and appointed Vice Chairman Chung as the chairman.

Earlier at the shareholders' meeting, Hyundai Motor did not propose the reappointment of Chung Mong-koo, Chairman of Hyundai Motor Group, whose term as an inside director expired on the 16th, but passed a proposal to appoint Kim Sang-hyun, Executive Director of the Finance Headquarters, as an inside director. Although Chairman Chung stepped down as the chairman of the board after 21 years, he will retain his position as group chairman.

Initially, the possibility of Vice Chairman Chung being appointed as chairman of the board was considered low. However, amid crisis situations such as the spread of the novel coronavirus (COVID-19), it is interpreted that Vice Chairman Chung took the chairmanship to strengthen responsible management.

Vice Chairman Chung was promoted to Vice Chairman in September 2018 and has served as CEO through the shareholders' meetings of Hyundai Motor and Hyundai Mobis last year.

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