SEOUL, Sept. 14 (Xinhua) — Hyundai Motor Group, South Korea’s biggest automaker, said Friday that it has appointed the group’s heir apparent as executive vice chairman, the No. 2 post.
Chung Eui-sun, an heir apparent to Chairman Chung Mong-koo of the family-controlled conglomerate, was named to the post from the group’s vice chairman.
The 49-year-old will oversee the group’s entire operations, aiding and reporting to his 81-year-old father, Hyundai said in a press release.
It said the appointment reflected the chairman’s aim to improve the group’s overall business responsiveness amid rapid changes in the auto industry’s competitive landscape.
Through the leadership change, Hyundai expected to enhance its competitiveness, better respond to paradigm shifts and the advent of the Fourth Industrial Revolution, the company noted.