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Hyundai appoints Mr Albert to development chief

Auto News - Published on Fri, 14 Dec 2018

Image Source: Carsales
Reuters reported that Hyundai Motor appointed Mr Albert Biermann, a former BMW executive, as its first foreign head of research and development, raising expectations of a smooth transition of power at the family-run business empire. German national Biermann replaces longtime executives Mr Yang Woong-chul and Mr Kwon Moon-sik. The move was seen as a significant step to bring in fresh ideas at the Korean-dominated group.

His appointment is part of a shake-up of the executive ranks at South Korea's second-largest family-owned business empire.

In all, 17 top executives were reassigned across the group including at Hyundai and Kia, which together form the world's fifth-biggest automaker.

The management shuffle follows the promotion of Euisun Chung in September to Hyundai Motor's executive vice chairman, moving him closer to succeeding his 80-year-old father, Mong-Koo Chung, as group chairman.

Source :

Posted By : Joykumar Irom on Fri, 14 Dec 2018
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