FILE PHOTO: Euisun Chung, vice chairman of Hyundai Motor Company, attends the 2017 New York International Auto Show in New York City, U.S. April 12, 2017. REUTERS/Brendan Mcdermid/File Photo
In the first generational handover at the South Korean automobile giant in 20 years, Hyundai Motor Group said Chung, 49, had been promoted to chairman from executive vice chairman, replacing his father, Mong-Koo Chung, who was made honorary chairman. His father, who took the wheels of the group in 2000, gave up his board seat in Hyundai Motor earlier this year after stepping back from frontline operations.
About time Hyundai-KIA has a new Chairman. About time.
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