Hyosung chairman taps son as successor
For a decade, Chairman Cho has evaluated the performances of his sons, though the company cited health reasons for Cho’s step down. He will maintain his title as representative director of the company.
The nomination of Cho Hyun-joon is mainly due to his management success, Hyosung says, as he led the company to record sales in the last two years. Last year Cho helped Hyosung reap 12.46 trillion won ($10.32 billion) in revenue and 950.2 billion won in profit. The fiber business he has led since 2007 grew to a core business division, accounting for 40 percent of company profit.
BY KIM JEE-HEE [firstname.lastname@example.org]