SEOUL, Dec. 20 (Korea Bizwire) — Hyundai Motor Group has decided to reform its regular executive promotion practices by increasing the number of new executives compared to typical years.
By promoting new executives, the decision was made to expand the change in leadership and to foster next generation leadership candidates.
Along with personnel management based on performance, Hyundai Motor Group is looking to strengthen its ability to respond to changes in the automobile industry and to secure future growth potential.
The latest change in executive personnel is in line with recent changes in the presidents of foreign business units, including in China.
The number of new promotions is particularly notable, and although there were 115 new executives last year, the number rose by 22.6 percent this year.
In addition, out of the total number of promotions, the ratio of director positions was 40.6 percent, the highest since 2011 when it was 44 percent.
The new promotions also reflect the fact that the company is looking to secure future technological advancement in the industry, which is confirmed by an increase in R&D spending.
The sales and marketing department is also facing changes as part of the company’s bid to boost competitiveness.
Hyundai Motor Group explained that it will emphasize R&D in order to secure future technological advancement, including Connected Car, Self-driving Car and Smart Mobility technology.
At the same time, the company is continuing to foster outstanding human resources in R&D for sustainable growth.
In order for R&D specialists to fully concentrate on research, the company promoted three highly renowned professionals.
In addition, Hyundai has been implementing a research committee system since 2009 so that experts in R&D can focus on the pursuit of new technology.
One female executive recognized for her outstanding performance was Ryu Soo-jin, who was promoted to director general.
Hyundai Motor Group promised to continue efforts to provide smart mobility solutions and meet the demands of customers and the market.
The company will also strengthen its competitiveness in future technology to lead the auto industry.
Kevin Lee (firstname.lastname@example.org)