Hyundai Motor Group has carried out a massive reshuffling among its key affiliates, with members of Chairman Chung Euisun s inner circle promoted to chief executive roles. The new change in the group s core leadership heralds Chung s drive to transition the global automaker into a smart mobility leader.
On Dec. 15, the South Korean automaker announced new executive appointments in its affiliates Hyundai Motor Co., construction and engineering firm Hyundai Engineering & Construction Co., and auto parts makers Hyundai Mobis Co., and Hyundai Wia Corp.
Hyundai Motor CEO Chang Jae-hoon
Hyundai Motor Company, the group s backbone, has promoted Executive Vice President Chang Jae-hoon as its new CEO.
Hyundai Motor Promotes Domestic Sales Biz Head to CEO
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This undated file photo shows Chang Jae-hoon, who was promoted to CEO of Hyundai Motor Co. on Dec. 15, 2020. (Yonhap)
SEOUL, Dec. 15 (Korea Bizwire) Hyundai Motor Group, South Korea’s second-largest conglomerate, on Tuesday named the new CEO for its flagship unit in its latest senior executive reshuffle focusing on future growth.
The automotive titan promoted Chang Jae-hoon, an executive vice president who led Hyundai Motor Co.’s domestic sales business and its luxury marquee Genesis, to president and CEO of South Korea’s top automaker.
Chang, 56, will focus on upgrading corporate culture and its innovations, the group added. Hyundai Motor’s existing CEO Lee Won-hee, meanwhile, will concentrate on other areas including value chain developments.
REFINERY NEWS ROUNDUP: Refineries in India ramp up runs
Refineries in India have been ramping up runs after demand for products, excluding jet, reached pre-coronavirus levels.
Average capacity utilization for all categories of refineries in India improved to 87% in October compared with 86% in the previous month, showed the latest survey of the oil ministry Nov. 25, reflecting gradual improvement in oil demand as Asia’s third-largest economy unlocks. However, the October run was lower than the previous year’s run rate of 104%. In October, state-run refineries recorded 89% run compared with 104% from a year ago and 83% in September. Private refineries recorded 80% run in October compared with 103% a year-ago and 89% in September. The private refiners’ lower run rate was mainly due to lower processing at Reliance operated export focused unit at 82% after maintenance shutdown of a Crude Distillation Unit at its Jamnagar complex and a poor run of Rosneft part-owned Nayara Energy