Chung Eui-sun, executive vice chairman of Hyundai Motor Group, was appointed chairman of the Hyundai Motor's board of directors. As chairman of Hyundai Motor's board of directors, Chung is expected to accelerate future mobility projects.
Hyundai Motor said that it held a board of directors’ meeting right after its regular shareholders' meeting on March 19 and appointed Chung as chairman of the board of directors.
The company explains that the move is aimed at responding efficiently and swiftly to the business environment, such as concerns about global economic crisis and drastic changes in the auto industry paradigm.
"We expect to improve the efficiency of our work based on a high understanding of the board's agenda and operations," a Hyundai official said. "Hyundai is continuing to strengthen the board's expertise, independence and transparency, and plans to continue its efforts for further improvement in the future."
Chung began to take the forefront of management by being promoted to executive vice chairman of the group in September 2018 and was also appointed as CEO of Hyundai Motor and Hyundai Mobis in March last year.
He then extended his management steps further as he assumed the chairmanship of Hyundai Motor's board of directors. In particular, Chung is expected to strengthen responsible management while focusing more on future mobility projects.
Meanwhile, Hyundai Motor Group Chairman Chung Mong-koo, who had served as the chairman of the board of directors, naturally stepped down from the board of directors as his term as an in-house director expired on the same day.
However, he maintains his chairmanship as an unregistered executive. He is also listed as a registered director of Hyundai Mobis.