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Hyundai Motor has just promoted Jaehoon (Jay) Chang, head of its premium Genesis brand, as its new co-CEO and president.
Existing president and co-CEO, Lee Won-hee, will be tasked with securing a competitive edge in future businesses, while optimizing and strengthening technology development for the company, with a focus on electrification, smart factories and overall synergy.
Chang has stood out as a leader of the Genesis division, as well as the Korea Business division. He also influenced the overall culture of Hyundai Motor and was therefore considered the “right fit to spearhead the company’s innovations and changes.”
Other major appointments include Jaiwon Shin, executive VP of the UAM Division taking over as President and Kyu Oh Lee, senior VP and head of vehicle tech development for Hyundai and Kia being promoted to executive VP.