Steve S. Yang, one of Hyundai's co-CEOs and President of Hyundai Motor Corporation, has just resigned from his duties as one of the heads of Hyundai Motor Company, citing health and personal reasons.
Under Yang's leadership of the company, Hyundai Motor Company saw great leaps in sales, quality, research and development and customer satisfaction, even during the crisis that has struck the automotive and financial industries. Yang however will not be totally absent from the company as he will assume an advisory role.
In the meantime, Yang's his duties as co-CEO will be divided amongst domestic and foreign sales chiefs Kim Choong-ho and Kim Seung-tack, respectively, under the oversight of Chung Mong-Koo, Chairman and also co-CEO of the company.
Hyundai Motor Company's board will choose a new CEO later on.