Hyundai Motor Group underscores mobility in latest C-suite appointments

Luc Donckerwolke and Lee Kyoo-bok [Images sources: HMG]

Luc Donckerwolke, executive vice president and chief creative officer (CCO) at Hyundai Motor Group (HMG), was promoted to president, and Lee Kyoo-bok, the group’s senior vice president, to executive vice president and chief executive officer of Hyundai Glovis Co. in the auto giant’s key executive appointments announced Wednesday.

The latest appointments for CEO and presidents at HMG is “to respond to rapidly-changing global business environment and continue driving business performance,” the group said in a statement. The move is also to “bolster future business capabilities while allowing the group to better manage global economic uncertainties,” it said.

The appointments underscore HMG efforts to strengthen its future mobility business while maintaining stability.

All presidents at HMG affiliates except for Hyundai Glovis kept their positions, which shows the group is trying to create steady outcome and respond promptly in a rapidly-changing environment.

Since Executive Chairman Euisun Chung took the helm of HMG in 2020, very few executives have been replaced - four in 2020, one in March 2021, and one in February this year. There were no reshuffle of presidents and CEOs in last year’s appointment and only two on Wednesday.

Donckerwolke - HMG CCO and the only one who got promoted this time - is a design expert highly trusted by Chung. He was responsible for Hyundai Motor Co. and Genesis brand designs before retirement in March 2020. He returned to the auto giant in November the same year after Chung became chairman and took on the role of the newly created CCO position. Donckerwolke is leading customer experience design related to future mobility such as electric vehicle IONIQ models and advanced air mobility.

Hyundai Glovis President and CEO Lee is a financial, overseas sales-based strategy planning expert that took on Hyundai’s global sales and finance roles. He has been leading HMG’s process innovation aimed at sustainable growth. Hyundai Glovis’s largest shareholder is Chung with a 20 percent stake.

Jin Eun-sook, female vice president and head of ICT innovation at Hyundai Motor, will also take on another role as head of the next-generation Enterprise Resource Planning (ERP) innovation center. Jin served as chief technology officer at NHN Corp., the country’s leading game and online service provider, and joined Hyundai Motor late last year. She is an expert on data, cloud, and IT service platform development.

Kong Young-woon, president of strategy planning division, Chi Young-cho, president of innovation division, and Kim Jung-hoon, president and CEO of Hyundai Glovis, will serve as advisors.

HMG, in the meantime, set up a global strategy office (GSO) to accelerate transition into a future mobility group by strengthening synergy between the group’s core businesses. GSO will play the role of a control tower for HMG’s future mobility strategy in areas of software, hardware, and mobility services.

“GSO will have a decision-making body composed of experts in each field for timely and consistent implementation of strategies,” HMG said in a statement.

The group has not yet named a leader for the newly created position. It plans to make an announcement this month.

HMG, meanwhile, plans to carry out regular executive appointment in mid-December. The group last year named largest-ever new executives of 203, including 66 at Hyundai Motor. The group is widely expected to keep changes to minimum for stable business management.