SEOUL (Reuters) – Hyundai Motor Group’s heir apparent Euisun Chung was promoted to the group’s chairman, a person familiar with the matter said, formally cementing his inheritance of the leadership position in the world’s fifth-largest automaker group from his octogenarian father.
Hyundai Motor’s board endorsed the appointment of Chung as chairman, the person added, asking not to be identified because public announcement has not yet made. A Hyundai Motor spokeswoman declined to comment.
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