Monday , November 30 2020

An unexpected change in Hyundai raises stocks to top level in two months



Hyundai Motor Shares Co they climb up to 9%, at its highest level since October 10, after the news, while the titles in subsidiaries like Hyundai Mobis, The Hyundai Wia a Hyundai Glovis They also go up.

The change is part of the preparations for a generational change among the operators of the second largest empire of business to the largest family in Korea.

President of the group, Albert Biermann, a German former BMW executive, head of research and development to replace Yang Woong-chul a Kwon Moon-sik. The movement was considered an important step in bringing new ideas to the Korean dominated group.

Overall, 17 senior executives within the group, which are included, were re-trusted Hyundai Co Motor a a Kia Motors Corp. and they together form the fifth largest automotive in the world.

The decision takes place after Euisun Chung Hyundai Motor, vice president of executive Hyundai Motor, was promoted in September, leaving him closer to succeeding his father Mong-Koo Chung, 80, as the president of the group.

The movements come at a time when Hyundai Motor Co is trying to reduce its collapse due to calls for review costs in the US and weak sales in the US and Chinese markets.

Someone who was familiar with the matter told Reuters on Tuesday that the reorganization was "part of a national change that Chung (son) is looking for".

The head of innovation is Hyundai Motor Co., Chi Chihuahua, is president of the automaker's framework of efforts to reach competitors in future technologies, such as shared cars.


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