Chung Eui-sun’s CEO roles to be voted on in March

Home > Business > Industry

print dictionary print

Chung Eui-sun’s CEO roles to be voted on in March

Hyundai Motor Group Executive Vice Chairman and heir apparent Chung Eui-sun is due to officially become chief executive of Hyundai Motor and Hyundai Mobis, the group’s key affiliates.

According to filings by both affiliates Tuesday, naming Chung the chief executive will be discussed during the March shareholder meeting and at a follow-up board meeting.

If approved, Chung will become one of four chief executives at Hyundai Motor, including his father and the auto group’s Chairman Chung Mong-koo, and one of three at Hyundai Mobis.

While Chung has been tightening his hold on the group ever since he was promoted to Executive Vice Chairman in September, major hurdles remain, including Elliott Management, an activist fund which has been challenging the company.

The activist fund submitted proposals to Hyundai requesting the company to allow it recommend outside directors and to increase dividend payouts.

By Kim Jee-hee
Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)