Hyundai Motor Group has named Chang Jae-hoon as CEO and president and also promoted other senior executives who will help the company adapt to rapid changes in the business environment and lead the development of its future mobility ecosystem. 

Chang was formerly Hyundai Motor Company’s executive vice president. The company’s current CEOs are chairman Chung Eui-son and presidents Ha Eon-tae and Lee Won-hee.

Known to be one of the closest allies of the chairman, Chang previously led the domestic business of Hyundai Motor Company and its prestige brand Genesis. After graduating from Korea University and earning a Master’s Degree from Boston University, Chang built his career at the country’s top conglomerate Samsung, industry sources said. They noted that that he had also once operated a high-end Italian restaurant in Yongsan, Seoul.

Chang joined Hyundai Motor Group’s logistics unit Hyundai Glovis in 2011 and moved to Hyundai Motor Company in the following year. He was promoted to an executive director at the end of 2013.

He has mostly earned his reputation since 2018, accomplishing remarkable achievements as head of the Korea Business Division and Genesis Division. He also led the People & Business Operation Support Division’s efforts to bring innovation to the organization and culture, such as the introduction of a more horizontal corporate culture and the town hall meeting, a platform for communication between management and employees.

Chang enjoys a strong trust from the firm, while realizing chairman Chung’s management philosophy of “innovations and changes”.

The company sold 96,084 Genesis units in the domestic market in the first 11 months of this year, according to automotive industry sources. More than 100,000 units were sold in the same period if overseas sales are included, the first time the combined sales of the luxury brand have exceeded this benchmark since its launch in 2015.

President Lee, who has been playing a representative role in running Hyundai Motor Company, will focus on electrification, smart factories, tech R&D and other tasks related to future mobility.

New leaders were also appointed within Hyundai Motor Group’s key affiliates. Hyundai Mobis appointed Cho Sung-hwan as its new president, while Hyundai Engineering and Construction promoted Yoon Young-joon to president. Hyundai Wia appointed Jung Jae-wook as its new president.

The latest appointments represent the first reshuffle since Chung Eui-sun was promoted to chairman in October. (Reporting by Kyung-tae Kim)