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Hyundai Electric & Energy Systems appoint new CEO

Dec 27, 2019
Posted by Patrick Haddad

Hyundai Electric & Energy Systems has appointed the former chief of Korea Hydro & Nuclear Power (KHNP) as president and CEO.

The Korean electrical power equipment provider said new CEO Cho Seok, the first outsider to take the position, was appointed to replace former chief Chung Myung-lim, who resigned two days ago. The company is an affiliate of Hyundai Heavy Industries Group.

Cho, 62, began his career at the Ministry of Knowledge Economy in 1981 after graduating from Seoul National University. He served as vice minister at ministry between 2011 and 2013 and chief of state-run KHNP between 2013 and 2016.

“As the first president appointed from outside, I feel a lot of responsibility. We will enhance the company’s capabilities by creating a corporate culture of harmony and communication,” Cho said.

HHI said Cho was appointing as he is a noted economic expert who has worked in energy, industrial policy and trade for more than 30 years while gaining trust from employees with strong leadership.

“As Hyundai Electric is completing high-intensity efforts such as paid-in capital increase, headcount reduction and asset sales this year, the company will focus on achieving surplus through change and innovation centering on new management,” the group said.

Source: The Korea Herald

Photo (for illustrative purposes): Hyundai Electric & Energy Systems / HHI Group / HHI

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