Hyundai Motor India Ltd. (HMIL), the second largest passenger car manufacturer of the country has made noteworthy changes in its top management. Bo Shin Seo has been appointed as the new Managing Director (MD) of HMIL, effective from 5th March 2012.
Hyundai India appoints Bo Shin Seo as new managing director
Seo, an engineer by qualification, took charge of the company by replacing Han Woo Park, who will return to Korea. As per reports, Han Woo Park will join Kia Motors, a part of Hyundai Motor Co. as the Chief Financial Officer. Prior to his appointment as the MD of the company's India operations, Seo used to serve as the production head of the manufacturer's Alabama plant in United States. Park has spent nine years in India and in November 2009, he was appointed as the MD of HMIL.
The transfer decision was taken at the time when the company managed to attain flat sales in spite of a downfall in the automobile market. The car maker sold 3,73,709 units in the domestic market in 2011, thus registering a growth of 4.8 per cent. However, exports declined by 1.9 per cent as the company only sold 242,330 units. Domestic sales of HMIL for the month of February have been recorded as 36,805 units, which is 12.9 per cent higher than the volumes of the same period in 2011. The company exported 15,050 in February 2012 registering a downfall of 22.3 percent.
