To advance executives with proven performance to head key group companies
By Business Editors Lee Sam-sun and Richard Park
The Hyundai Motor Group has recently announced the appointment of CEO and President in the second half of 2023 in order to agilely respond to the new global business environment and to lay the foundation for creating sustainable performance and growth of business.
The company promoted Vice President Lee Gyusuk of Hyundai Motor and Kia Motors and Vice President of Hyundai Motor Planning and Finance Seo Gang-hyun to the new position of President and CEO of Hyundai Mobis and Mr. Seo as CEO of Hyundai Steel, respectively.
Newly appointed CEO Lee Gyusuk of Hyundai-Kia Motors
The new appointments are characterized by the promotion of leaders with proven business performance capabilities to new CEO positions at major group companies, strengthening the performance-oriented accountability management system and accelerating the establishment and execution of key strategies of the company for the future.
Hyundai Mobis has promoted and nominated Vice President Lee Gyusuk (Head of Procurement) at Hyundai Motor Company and Kia Motors to the position of Chief Executive Officer. Lee is known to have outstanding expertise and global capabilities in the supply chain management (SCM).
The newly tapped CEO Lee is known to be a top expert in purchasing within the group, having successfully implemented multi-faceted solutions to stabilizing the supply chain in difficult business environments such as the pandemic and international political instability.
In particular, CEO Lee is known to have laid the foundation for improving the group's performance by optimizing production operations of finished vehicles and vehicle parts by securing important strategic materials in a timely manner during the supply chain crisis, when major parts such as automotive semiconductors were in short supply.
CEO Lee is expected to lead change and innovation based on his deep understanding of the vehicle SCM field and excellent global capabilities, accelerating the establishment and execution of new business strategies that Hyundai Mobis is pursuing under the 'New Mobis' vision, including the strategic shift to a software-centered mobility company.
Meanwhile, Hyundai Steel has promoted and nominated Mr. Gang-Hyun Seo, who has led Hyundai's finance and strategy division, to the position of President and CEO.
Newly appointed President & CEO Seo Gang-Hyun of Hyundai Steel
During his tenure as CFO of Hyundai Motor Company, Mr. Seo has a reputation as a leading financial expert in the group, having achieved remarkable business results, including the company's highest-ever sales and operating income.
In addition to his financial profitability performance, including stabilizing the financial structure and managing profitability, Mr. Seo has also served as Hyundai's planning division since 2021, playing a key role in strategic decision-making to strengthen business competitiveness, including establishing the company's mid- to long-term direction and expanding future-oriented investments.
A representative of Hyundai Motor Group said, "These appointments are aimed at enhancing the stability of the organization's operations and responding agilely to the global business environment."
Then he said, "Following the appointment of the CEO and president this month, we will continue to make bold appointments such as fostering and selecting leaders who will lead the changes and innovations needed to transform the group's future business through regular executive appointments next month."
Personal profile of newly appointed President of Hyundai Motor Group
Mr. Lee Gyusuk
President of Hyundai Mobis
Born in 1965 (58 years old)
Master of Business Administration, Seoul National University
Bachelor of Business Administration, Seoul National University
Major Career:
Head of Purchasing, Hyundai-Kia (Vice President)
Hyundai-Kia Purchasing Division 1 (Executive Director)
Head of Hyundai-Kia Purchasing Division 1, Head of Body & Chassis Parts Purchasing,
Head of Purchasing for Automotive Body Parts, Head of Purchasing for Electronic Components, Head of Purchasing Strategy (Vice President)
Personal profile of newly appointed President Seo Gang-hyun:
President, Hyundai Steel
Born in 1968 (55 years old)
Bachelor of International Economics, Seoul National University
Major Career
Head of Planning and Finance Division, Hyundai Motor Company (Vice President)
Head of Finance Division, Hyundai Steel (Executive Vice President)
Head of Accounting Management, Business Management, Hyundai Motor Co,
Head of Overseas Management (Vice President)