Kia names new chief after recall resignation
Source: Agencies |
September 9, 2010, Thursday
|
Print Edition
Print Edition
KIA Motors has promoted the chief of its overseas operations to the company's top executive job after his predecessor resigned following a global recall of more than 100,000 vehicles due to defective wiring.
The new boss, Lee Hyoung-keun, will retain his current responsibilities while also overseeing domestic business, global corporate planning and production and labor-management relations, Kia spokesman Micheal Choo said yesterday.
Lee replaces Chung Sung-eun, who was one of two Kia CEOs.
Chung's resignation came after Kia issued a global recall totaling 104,047 vehicles for a defect in electric wiring that controls mood lighting inside the car and could cause heat-related damage. Of that total, 35,185 vehicles were recalled in the United States.
Kia Motors Corp is an affiliate of South Korea's top auto maker Hyundai Motor Co. Together they form the world's fifth-largest automotive group.
Chung's resignation came amid a wave of recalls that have shaken the global auto industry since Japan's Toyota Motor Corp began calling in vehicles in October last year. The world's top auto maker has recalled more than 10 million vehicles for problems including faulty gas pedals and floor mats.
Choo said Chung's resignation came "in the light of" Kia's global recall, without elaborating. South Korea's Yonhap news agency reported that Hyundai Motor Chairman Chung Mong-koo asked Chung to step down to take responsibility for the recalls as they suggested possible quality problems.
Chung, the former Kia executive, is no relation to the Hyundai chairman, Choo said.
Seo Young-jong, another top Kia executive, retains his position as company president and CEO with a focus on domestic operations, Choo said.
Kia, which posted a 61 percent surge in second-quarter net profit, manufactures vehicles in South Korea as well as at overseas plants in China, Slovakia and the US
The company's stock price rose 2.3 percent yesterday to close at 34,150 won (US$29). Kia shares tripled in value in 2009.
The new boss, Lee Hyoung-keun, will retain his current responsibilities while also overseeing domestic business, global corporate planning and production and labor-management relations, Kia spokesman Micheal Choo said yesterday.
Lee replaces Chung Sung-eun, who was one of two Kia CEOs.
Chung's resignation came after Kia issued a global recall totaling 104,047 vehicles for a defect in electric wiring that controls mood lighting inside the car and could cause heat-related damage. Of that total, 35,185 vehicles were recalled in the United States.
Kia Motors Corp is an affiliate of South Korea's top auto maker Hyundai Motor Co. Together they form the world's fifth-largest automotive group.
Chung's resignation came amid a wave of recalls that have shaken the global auto industry since Japan's Toyota Motor Corp began calling in vehicles in October last year. The world's top auto maker has recalled more than 10 million vehicles for problems including faulty gas pedals and floor mats.
Choo said Chung's resignation came "in the light of" Kia's global recall, without elaborating. South Korea's Yonhap news agency reported that Hyundai Motor Chairman Chung Mong-koo asked Chung to step down to take responsibility for the recalls as they suggested possible quality problems.
Chung, the former Kia executive, is no relation to the Hyundai chairman, Choo said.
Seo Young-jong, another top Kia executive, retains his position as company president and CEO with a focus on domestic operations, Choo said.
Kia, which posted a 61 percent surge in second-quarter net profit, manufactures vehicles in South Korea as well as at overseas plants in China, Slovakia and the US
The company's stock price rose 2.3 percent yesterday to close at 34,150 won (US$29). Kia shares tripled in value in 2009.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
