Hyundai Co-CEO Quits Citing Personal Reasons

Hyundai Motor Co-Chief Executive Officer Steve Yang has resigned for personal reasons and its domestic and foreign sales chiefs will split his role, in a move some analysts said was aimed at further raising its overseas sales and profile.

Under his reign, Hyundai became one of the biggest threats to global automakers in recent years, increasing sales and gaining market share even during the global financial crisis.

Yang took the top job at the world's fifth-biggest auto group along with affiliate Kia Motors in early 2009 and was one of three CEOs of Hyundai along with its chairman and founding family member Chung Mong-koo, and the head of Hyundai's production at its top plant.

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Agent009 - 9/30/2011 1:02:59 PM

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Makes you wonder just what those reasons could be.

g2ok - 9/30/2011 2:44:52 PM

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Same as the other Steve, health reasons.

grenouille - 10/1/2011 12:11:55 AM

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When the rats leave the ship it's not a good sign.....