Hyundai Mobis, Steel name new CEOs

Hyundai Mobis appoints new CEO, Lee Gyu-suk, for his expertise in supply chain management and handling semiconductor shortages. Hyundai Steel elevates Seo Gang-hyun as CEO for his financial management skills.

Lee Gyu-suk, new CEO of Hyundai Mobis [HYUNDAI MOTOR GROUP]

Hyundai Mobis named Lee Gyu-suk, 58, as the new CEO as a part of a year-end reshuffle.

With a degree in business from Seoul National University, Lee served as the vice president of the purchase team at Hyundai Motor and Kia.

Lee is recognized for his expertise and global capabilities in supply chain management, Mobis said, noting how he handled the auto semiconductor shortage issue amid the Covid-19 pandemic.

Seo Gang-hyun, new CEO of Hyundai Steel [HYUNDAI MOTOR GROUP]

Seo Gang-hyun, chief financial officer of Hyundai Motor, was elevated to CEO of Hyundai Steel.

Seo is credited for stably managing Hyundai's finances, even leading the team to a record all-time high profit in the company's history.

“The reshuffle will place leaders with proven capabilities in the position of CEO to increase the safety of the organization and better respond to global uncertainties,” Hyundai Motor Group said in a statement.

Cho Sung-hwan and Ahn Dong-il, current CEOs of Hyundai Mobis and Hyundai Steel, were appointed as the advisers of Hyundai Motor Group.

Cho will also serve as the president of the International Organization for Standardization for two years starting in 2024.

Hyundai Motor Group will announce its reshuffle for positions lower than vice presidents in December.

BY SARAH CHEA [chea.sarah@joongang.co.kr]