Hyundai Motor Group conducted its ‘2023 second half regular executive appointment’ on the 20th (Wednesday) to accelerate its future mobility business strategy and enhance sustainability.
This appointment focused on recognizing the achievements of 2023, which set a record in performance, and on selecting leaders who will guide the company’s future mobility strategy amid an uncertain business environment.
The group executed the largest-ever executive promotion, promoting a total of 252 executives, including 97 from Hyundai Motor, 38 from Kia, and 20 from Hyundai Mobis.
The recent executive promotion disregarded nationality, age, and gender, and was based on performance and capabilities of outstanding talent, providing appropriate rewards and encouragement in line with this year’s unprecedented achievements.
Among the promoted executives, a total of 197 were newly appointed, with 38% selected from those in their 40s, emphasizing a generational shift to prepare for the future.
The proportion of executives in their 40s among newly appointed executives has steadily increased from 21% in 2020 to 30% in 2021, 35% last year, and 38% this year, indicating an acceleration of generational change within Hyundai Motor Group.
In terms of new promotions, 30% were selected from technology-related fields such as R&D, new businesses, and manufacturing, maintaining a trend of promoting technical talent.
A total of 48 vice-presidents and senior directors were promoted as candidates to serve in future CEO roles, continuing the recent trend of securing key leaders with substance to enhance the group’s sustainability.
Moreover, organizational reforms and promotions were implemented to establish a new ‘Quality First’ management philosophy and vision.
The group promoted Brian Latauf, vice president, to president to drive fundamental changes in vehicle safety and quality management philosophy, appointing him as the global chief safety and quality officer (GCSQO) of Hyundai and Kia.
Brian Latauf joined Hyundai’s North American division in 2019 after 27 years at General Motors (GM), where he was a global vehicle safety expert who restructured GM’s internal safety system following a large-scale recall crisis.
Since 2022, he has served as Hyundai’s global chief safety officer, enhancing the brand’s reliability by implementing rapid market responses based on engineering expertise and a customer-centered quality philosophy.
As GCSQO, Brian Latauf will oversee quality control policies at all stages of vehicle development, production, and sales, innovating internal processes and KPIs to significantly enhance customer focus. He also plans to implement organizational reforms placing related functions under the GSQO (Global Safety & Quality Office) to ensure the rapid dissemination of the new quality philosophy.
Lee Dong-seok, who has led five consecutive years without strikes and achieved maximum production results, will be promoted to president as the head of domestic production and chief safety and health officer.
Lee Dong-seok conducted negotiations quickly and decisively based on a comprehensive understanding of the company and strategic judgment, leading to a strike-free resolution this year, marking the first five consecutive years without strikes since the union’s establishment.
Additionally, he achieved a record domestic production of 1.86 million vehicles this year, generating results in both production and labor management, reflecting the performance-oriented personnel policy.
Vice President Kim Yoon-goo (head of the audit office of Hyundai Motor Group) has been appointed as president of Hyundai AutoEver.
President Kim Yoon-goo is recognized for his high understanding of the group as he has been responsible for important management support areas, including the head of Hyundai Motor Group’s human resources and audit offices, with extensive experience in diagnosing and improving weaknesses in organizational structure and work processes.
With Kim Yoon-goo’s appointment as CEO of Hyundai AutoEver, he is expected to strengthen the group’s synergy through organizational and leadership reform, focusing on enhancing software capabilities and strengthening the foundational strength by attracting external technical talent after the integration of Hyundai AutoEver with Hyundai Autron and Hyundai M&S in 2021.
Baek Hyung-geun, vice president (CFO of Hyundai Mobis), has been promoted to president of Hyundai Securities.
President Baek Hyung-geun is a representative financial expert within the group, focusing on securing liquidity to strengthen future investment in Hyundai Mobis during his tenure. He boasts various experiences across group affiliates, including serving as the planning manager of Hyundai Motor, general planning manager of Hyundai Engineering & Construction, and Icheon Steel.
As the president of Hyundai Securities, Baek Hyung-geun is expected to concentrate on proactive risk management in preparation for the decline in the market environment and securing fundamental competitiveness in the retail investment banking sector.
Jeon Byeong-koo, who has contributed to stable business growth based on enhanced financial soundness and risk management as the head of the management department at Hyundai Card and Hyundai Commercial, will be promoted to president.
Since joining the company in 1991, President Jeon Byeong-koo is recognized as a risk management expert, having directly responded to and overcome various financial market crises, including the 1997 currency crisis, the 2008 global financial crisis, and the pandemic from 2020 to 2022.
He has managing household debt and procurement risks successfully despite the rapid interest rate hikes originating from the United States, contributing significantly to the growth in operating profit for Hyundai Card and Hyundai Commercial this year. Hyundai Card reported an 8.6% increase in operating profit compared to the previous year in its third-quarter disclosures, the only domestic card company to achieve such growth.
President Jeon Byeong-koo is expected to drive sustainable long-term growth through optimal decision-making amid uncertain future business environments.
Hyundai Motor has appointed Kim Hye-in, former CHRO of BAT, as the head of its HR division, bringing in global expertise.
Kim Hye-in has held various roles at the global group BAT, including CHRO and member of the management board, contributing her extensive experience in human resources, culture, and diversity across over 175 countries.
Her appointment is anticipated to further enhance Hyundai’s inclusive organizational culture and integrate global standards into Hyundai’s human resources system and organizational culture.
A spokesperson for Hyundai Motor Group stated, “This executive appointment aims to strengthen leadership in preparation for achieving the 2025 ‘Smart Mobility Solution Provider’ strategy and preparing for 2030,” adding that, “We will continue to make bold investments and appointments in talents who can lead changes and innovations for the group’s future business transformation.”
If you have any inquiries, please contact: Lee Sang-jin daedusj@autodiary.kr