Biermann promoted to head of R&D

[YEH]

December 12, 2018 12:00 AM

Hyundai promotes former BMW exec to r&d chief in management shake-up

Hyunjoo Jin

SEOUL -- Hyundai Motor appointed Albert Biermann, a former BMW executive, as its first foreign head of research and development, raising expectations of a smooth transition of power at the family-run business empire.

German national Biermann replaces longtime executives Yang Woong-chul and Kwon Moon-sik. The move was seen as a significant step to bring in fresh ideas at the Korean-dominated group.

His appointment is part of a shake-up of the executive ranks at South Korea's second-largest family-owned business empire.

In all, 17 top executives were reassigned across the group including at Hyundai and Kia, which together form the world's fifth-biggest automaker.

The management shuffle follows the promotion of Euisun Chung in September to Hyundai Motor's executive vice chairman, moving him closer to succeeding his 80-year-old father, Mong-Koo Chung, as group chairman.

Hyundai promotes former BMW exec to r&d chief in management shake-up

A move that wasn't unexpected.