Hyundai Motor Group Announces Executive Personnel Changes This Week... Organizational Restructuring Also Discussed

[Asia Economy Reporter Hyungsoo Park] Hyundai Motor Group is expected to carry out vice chairman and president-level personnel appointments this week.

According to the automotive industry on the 12th, Hyundai Motor Group is known to conduct executive appointments as early as the 15th.

Previously, Hyundai Motor Group held its first executive appointments after Chairman Chung Euisun took office on December 15 last year. At that time, executives trusted by Chairman Chung, including President Jang Jae-hoon, were promoted in large numbers.

In this year's executive appointments, attention is focused on the positions of Peter Schreyer, President in charge of Design Management at Hyundai Motor Group, and Albert Biermann, President and Head of the Research and Development Division. Peter Schreyer joined Hyundai Motor Group in 2006 and is credited with elevating the design of Hyundai, Kia, and Genesis to a world-class level. Albert Biermann, head of the Research and Development Division, is mentioned as a replacement candidate, but since a successor has not been decided, it is unclear whether he will step down.

Most CEOs of affiliates such as Hyundai Motor, Hyundai Mobis, and Hyundai Wia were appointed last year. They are known to have a high possibility of retention.

There is also speculation that Hyundai Motor Group will undertake organizational restructuring along with executive appointments. A plan to consolidate the currently divided nine domestic and overseas business regions into five is being discussed. It is reported that the Asia-Pacific and Latin America regions, where demand is sluggish, are being considered for merger into the domestic business headquarters and the North American region, respectively.

This content was produced with the assistance of AI translation services.