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HHI management reshuffle removes double-CEO system

Nov 15,2017
Kwon Oh-gap
Hyundai Heavy Industries Group reshuffled its senior management ahead of establishing a holding company structure. Hyundai Heavy Industries Chairman Choi Kil-sun was appointed adviser to the company while Vice Chairman Kwon Oh-gap resigned from his CEO position.

The shipbuilding giant will now be led by CEO Kang Hwan-goo alone, stepping away from the previous double-CEO structure. Kwon, instead, was nominated as the CEO of the new holding company. The holding company’s name and launch date are yet to be finalized.

The company said Kwon showed his best efforts in overcoming the crisis faced by the shipbuilding industry for the last four years and he will put that same effort into finding future growth engines and improving the financial structure of the company as the head of the new holding company.

By Kim Jee-hee