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Hyundai Motor president and co-CEO Yang Seung-suk has resigned for personal reasons and Kim Choong-ho, chief of domestic sales, will take over as new head of the automaker, the company said on Friday.
Kim, 60, will be in charge of domestic sales, marketing and business strategy, part of what Yang used to run.
“Yang earlier signaled he would step down due to personal reason, and his resignation is not related to other management or performance issues,” a Hyundai Motor spokesman told The Korea Herald.
After giving up the post, Yang will work as an advisor for the automaker, the company said.
(insight@heraldcorp.com)
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