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[이데일리 송승현 기자] Chung Mong-koo, the honorary chairman of Hyundai Motor Group, gave up the last remaining registered director and completely withdrew from the group management.
According to the business community on the 21st, Honorary Chairman Chung is scheduled to resign from the post of registered director at the Hyundai Mobis shareholders’ meeting held on the 24th of next month. Hyundai Mobis recommended Ko Young-seok, head of the R&D Planning and Operation Dept., as the vacant executive director. This is the first time that executives at the executive level have been recommended as executive directors, and this is analyzed with the intention of considering professionalism rather than position.
In the business world, it is believed that Chung’s executive director of Hyundai Mobis will expire in March next year, but he has already decided to withdraw as he has already entrusted his son, Eui-sun Chung, chairman of Hyundai Motor Group, in charge of the management of the group.
Honorary Chairman Chung will retire from the front line of management by putting down the last remaining registered director positions at the end of the upcoming shareholders’ meeting of Hyundai Mobis. Honorary Chairman Chung stepped down from the board position in 2014 and the board member position in 2018.
In February of last year, the board of directors did not put forward an agenda for re-electing Honorary Chairman Chung as the executive director. In March of the same year, he withdrew from the board of directors at Hyundai Motor Company’s shareholders’ meeting and, after 21 years, handed over the chairmanship of the board of directors to Eui-seon Eui-sun, then senior vice chairman of the group. Since then, Honorary Chairman Chung retained only the positions of unregistered executives of Hyundai Motors and registered directors of Hyundai Mobis.
Even if the honorary chairman Chung resigns as a registered director of Hyundai Mobis, the non-registered executive of Hyundai Mobis will remain. However, as Chairman Eui-sun Eui-sun oversees the management of the group, even if he maintains the unregistered executive position of Honorary Chairman Chung, there will be virtually no impact.
On the other hand, honorary chairman Chung, born in 1938, regards the world’s fifth-largest automobile group as a group of’competitors’. After becoming the chairman of Hyundai Motor Company in 1998, he became the chairman of the board of directors in March 1999, and took control of the management of Hyundai Motors instead of the former honorary chairman of Hyundai Motor Company’s small father’Pony Jeong’ Seyoung Jeong.
The following year, in 2000, after having a’Prince’s Difficulty’ with his late younger brother Chung Mong-Heon, the former chairman of Hyundai Group, and holding a’Prince’s Difficulty’ position, he came out with only a Hyundai Motor Company affiliated company and played’Alone’. At the time of the separation of the Hyundai Group, it was ranked 5th in the business world after Samsung, Hyundai, LG, and SK, but the Hyundai Motor Group is solidifying its second place after Samsung.
In particular, Honorary Chairman Chung has led the company for over 20 years, leaving the keywords’quality management’ and’site management’. It secured core technologies by establishing the Namyang Research Center, the headquarters of the group’s R&D, and was also the first Korean to be dedicated to the’American Automobile Hall of Fame’.