Lee Jae-seong, president of the world’s largest shipbuilder Hyundai Heavy Industries, was promoted to chairman of HHI Group, company officials said Thursday.
This is the first time since 2011, when former chairman Min Keh-sik retired, that the heavy industry group is to have a CEO-chairman system.
Since 2009, Lee has served as the company’s president and CEO jointly with Kim Oi-hyun while the group chairman post was left empty. In the reshuffle, Kim’s role is to take charge of the shipbuilding, and the marine engineering division was expanded to plant construction.
Kim Jung-rae, president of the group’s trading affiliate Hyundai Corp., was shifted to president in charge of HHI’s engine, electronic device, construction equipment and green energy business.
Lee Kun-jong, executive director of HHI’s legal department, was promoted to president in charge of legal oversight.
“The new personnel system (involving a chairman and several presidents per business sector) will establish a responsible management system, which may actively respond to changing market situations,” said an HHI official.
Also, the appointment of a legal observance president displays the company’s determination to reinforce its legal order and work ethic, the official added.
Earlier this year, HHI was the target of a prosecutorial investigation into allegations that its incumbent and former executive members took bribes from nuclear power plant parts suppliers.
By Bae Hyun-jung ()
koreaherald@heraldcorp.com
