Hyundai Motor Group adds young faces to C-suite to drive future growth

Lee Young-tack, Song Min-kyu, Kim Heung-soo, Ahn Hyung-ki, Ryu Jihan, Kim Chang-hwan [Source : Hyundai Motor Group]

South Korean auto conglomerate Hyundai Motor Group has brought in younger executives in its annual reshuffle for 2023, accelerating efforts for future car development and sustainable growth amid growing uncertainties in the business environment.

Hyundai Motor Group Tuesday announced 224 promotions - 176 to executive levels and 48 to vice presidents and executive vice presidents.

Dualized hydrogen fuel cell divisions would be unified as hydrogen fuel cell development center.

A third of the new appointees are in their 40s. The new executives would mostly command research and development of future-oriented business and technology sectors.

Among the R&D leaders, Ahn Hyung-ki was appointed as the head of Electronics Development Center, Ryu Jihan as the head of Autonomous Driving Center and Kim Chang-hwan as the head of Hydrogen and Fuel Cell Development Center.

Seven of the new appointees are female leaders in their 40s. Kim Hyo-jung was tapped as the head of the group’s Vehicle Control SW Quality Group, Je Seunga as the head of Hyundai Design Innovation Group and Lim Jihye as the head of the group’s Competency Innovation Center.

The majority of the promotions - 70 percent - were for the group’s three mainstay auto and auto parts units Hyundai Motor Co., Kia Corp., and Hyundai Mobis Co. spurring efforts to shift into electric vehicles and software defined vehicles.

Top performers in design, brand and overseas business were promoted to executive vice presidents.

Among them are Karim Habib, head of Kia Global Design, Lee Young-tack, head of Hyundai Motor’s ASEAN HQ, and Song Min-kyu, head of Genesis Business Division. Executive Vice President Kim Heung-soo will head the Global Strategy Office to accelerate its transition into a future mobility solutions provider.

Hyundai Motor shares were trading 0.96 percent lower at 155,500 won ($120.77) in Seoul trading by midday Wednesday.