The modern automobile adjusts the management after the promotion of the legal su

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      Hyundai Motor Corp. (005380. KS) and its affiliate Kia Motor Corp. (000270. KS) have appointed a new head of global product strategy and design, a management adjustment following the promotion of Hyundai's legal successor, Zheng Yixuan, last month.
Mr. Zheng's promotion to vice president of Hyundai Motor Co. in September brought him closer to succeeding his father in running the South Korean second-largest conglomerate.
Hyundai Motor announced a few days ago that net profit fell sharply in the third quarter. This dragged down its share price to a low of nine years.
 
Hyundai and Kia also issued a joint statement Monday saying they have created a new business unit focused on artificial intelligence.
Thomas Schemera will be responsible for the global product strategy of Hyundai and KIA. Luc Donckerwolke will replace Peter Schreyer, the new design manager last month.
Lee Kyung-soo, the US business leader of Hyundai Motor, also stepped down as a consultant to the company.


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