[Alpha Biz=(Chicago) Reporter Kim Jisun] Hyundai Group Chairman Hyun Jung-eun will step down from the post of registered director of Hyundai Elevator and chairman of the board.

According to Hyundai Group on the 20th, Chairman Hyun attended a temporary board meeting of Hyundai Elevator and expressed his intention to resign, saying, "I think Hyundai Elevator also needs to meet the core value of board-centered management as a leading company amid growing awareness and demand for the advancement of corporate governance throughout society."

With Hyun's resignation, Hyundai Elevator will hold an extraordinary shareholders' meeting to set up a new board of directors and elect a new chairman of the board through an extraordinary board of directors. Through the Financial Supervisory Service's electronic disclosure system, the company held a temporary shareholders' meeting on Dec. 29 at Hyundai Elevator headquarters in Chungju, North Chungcheong Province, and announced that it will raise the appointment of a director as the first bill.

The current chairman holds the position of group president. Although he steps down from the management front, his plan is to help the company outside by meeting foreign partners or finding new customers. Chairman Hyun is rumored to have considered ways to improve corporate governance, including improving the operation of the board of directors and returning shareholders, citing opinions from shareholders and professional institutions for several months.

 

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