Hyundai co-CEO Yang resigns for personal reasons

Automotive News is reporting that Hyundai Co-CEO Steve Yang has resigned his duties at the Korean automaker for personal reasons. Yang helped push Hyundai to become the sales powerhouse it is now by improving the company's image and carving out additional market share even in the midst of an industry-wide downturn.
Yang was responsible for both domestic and foreign operations, and AN reports that executives Kim Choong-hu and Kim Seung-tack will split Yang's duties moving forward. Yang helmed the automaker's day-to-day operations, and split CEO duties with two others, including chairman and founding family member Chung Mong-koo. A new CEO will be chosen by the company's board at a later date.

The 58-year-old Yang is stepping down due to health reasons, according to Automotive News. He will remain as an advisor. Yang was the less visible of the automaker's trio of CEOs, thanks in part to Chairman Chung's reputation as a stern leader who has been instrumental in raising his company's production standards.

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