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KCGI Asset Management (KCGI AM) has urged Hyundai Elevator to remove Hyun Jeong-eun, the incumbent chair of Hyundai Elevator s board of directors, from the board to bring more transparency and independence to the firm s corporate governance by separating the ownership and management. KCGI holds about a 2 percent stake in common shares of Hyundai Elevator.
Hyundai Group Chairwoman Hyun Jeong-eun continues to face the risk of losing control over Hyundai Elevator, a key subsidiary, as her legal battle with Swiss elevator maker, Schindler, has not yet come to an end, according to sources familiar with this issue, Wednesday.