Wonhee Lee, Hyundai Motor President, Resigns as CEO After 4 Years

[Asia Economy Reporter Su-yeon Woo] Lee Won-hee, President of Hyundai Motor Company, stepped down from his CEO position on the 16th after four years. This move follows the appointment of Jang Jae-hoon as Hyundai Motor CEO in the previous day's group executive personnel reshuffle.

Although Lee will relinquish his CEO role, he is expected to take on responsibilities such as optimizing Hyundai Motor's global business, innovating the value chain through electrification and smart factories, and strengthening synergies in technology development.

Additionally, as an advisor, he will oversee the production technology and quality management duties previously handled by former Hyundai Motor President Seo Bo-shin, who has stepped back from frontline management. Previously, Lee was responsible for Hyundai Motor's corporate strategy, business management, domestic sales, and finance.

Appointed as Hyundai Motor CEO in March 2016, Lee led the company alongside Honorary Chairman Chung Mong-koo and supported Chairman Chung Eui-sun after the honorary chairman stepped down from management.

The vacant CEO position left by Lee is expected to be filled by Jang Jae-hoon, President of Hyundai Motor. In the recent executive personnel announcement, Jang was appointed as CEO. Following board and shareholder meetings, Hyundai Motor is expected to transition to a three-person CEO system with Chairman Chung Eui-sun, President Ha Eon-tae, and President Jang Jae-hoon serving as individual representatives.

Lee Won-hee, President of Hyundai Motor Company

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