Hyundai CEO resigns

In what comes as surprising news, Hyundai Motors CEO Steve Yang has recently left the company for personal reasons.
Hyundai 2011
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Mr Yang, whom CarAdvice met earlier this year on a trip to South Korea, has been in the driver’s seat (as part of a three-man CEO team) of the ever-expanding Korean giant since early 2009. He was in charge of domestic and foreign sales, perhaps the most crucial aspect of the company’s operations.

In the last two and half years Mr Yang guided Hyundai and Kia to jointly become the fifth-largest global automobile-manufacturing group. The company’s global expansions have seen it become a shining example of a profitable manufacturer in times of economic hardship.

Hyundai Australia has also been an important part of Hyundai groups global expansion, with the local arm of the operation managing to easily remain in the top five best selling manufacturers year to date.

For now, Kim Choong-ho and Kim Seung-tack have been put in charge Hyundai’s domestic and overseas business (respectively). Hyundai’s board is expected to select a new CEO at a later date.