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Hyundai's executive reshuffle promotes financial, electrification leaders

Published: 10 Dec. 2024, 17:41 Updated: 10 Dec. 2024, 18:05

CHO YONG-JUN
[email protected]

From left, Hyundai Motor's new executive vice presidents Lee Seung-jo, Koo Za-yong, Kim Chang-hwan and Han Dong-hee [HYUNDAI MOTOR]

Hyundai Motor Group announced a reshuffle, promoting 239 executives on Tuesday in a shake-up that focused on leaders from its finance and electrification departments.

Hyundai Motor promoted 73 executives, while Kia named 43 and auto parts maker Hyundai Mobis appointed 20 executives.

Hyundai Motor’s current chief financial officer and chief strategy officer, Lee Seung-jo, was promoted to executive vice president.

Head of Hyundai Motor’s Investor Relations, Koo Za-yong, was also named executive vice president. The promotion is the result of his role in the company's improved credit ratings from Fitch, Moody’s and S&P Global, according to the automaker.

Previously, Hyundai Motor named José Muñoz, the company’s current global chief operating officer, as its first non-Korean CEO in November. Muñoz is also the president and CEO of Hyundai and Genesis Motor North America.

Chang Jae-hoon, who was named the new vice chair of Hyundai Motor Group in November, will also head the group’s corporate planning office, spearheading future business strategies.

The company has also promoted key personnel responsible for electric and hydrogen fuel-cell powered vehicle development. The head of the electrification energy solutions technology unit, Kim Chang-hwan, and head of the electrified propulsion test center Han Dong-hee were both named executive vice presidents.

Hyundai Motor promoted a total of 53 executives to executive vice presidents and senior vice presidents.

Kia appointed Kim Tae-hun, a senior vice president, as executive vice president of its global operations division, while Kim Seung-jun, who worked in the company’s finance and accounting division and U.S. sales division, was named chief financial officer and senior vice president.

Forty-one percent of the total executive appointees were in their forties, with Hyundai Motor Group promoting a total of 11 women to executive roles.

BY CHO YONG-JUN [[email protected]]