Hyundai CEO Steve Yang retires

According to KHABARKHODRO, Mr. Steve Yang, of Hyundai Motors has decided to resign as Chief Executive Officer of the company after serving the company for a period of two years.

AS reporter of KHABARKHODRO reports, citing personal reasons for taking this decision, 58 year old Yang who has been at this post since 2009 has decided to step down. He was responsible for taking the company forward which resulted in its tremendous expansion and extensive growth. Yang was CEO together with Chung Mong-koo founder and part of the family of the company ownership.

Yang who said that he was resigning due to health concerns, would however continue to remain as advisor of the company. It was announced that two existing executives of the company are likely to take Yang's place. Kim Choong-ho is expected to take over domestic business and Kim Seung-tack will oversee the company's export businesses. However it was not yet clear as to who would be nominated at Chief Executive Officer of the company.