Vice Chairman Chung Taeyoung and New Co-CEO
"Management-Oriented Leader... Synergy with Vice Chairman Chung"
Cho Changhyun, Executive Vice President of Hyundai Card, will be appointed as the new co-CEO of Hyundai Card. Hyundai Card will now be led by two co-CEOs: Vice Chairman Chung Taeyoung and Executive Vice President Cho Changhyun.
On July 17, Hyundai Card announced that Cho had been recommended as co-CEO and that the appointment process is currently underway.
Cho was nominated as a CEO candidate through the Executive Candidate Recommendation Committee held on July 9. He is expected to be officially appointed after the extraordinary general shareholders' meeting and board meeting scheduled for July 30.
Born in 1970, Cho joined Hyundai Card in 2004 and has served in various positions, including Head of General Purpose Credit Card (GPCC), Head of Private Label Credit Card (PLCC), Head of Finance and Corporate Business Division, and Head of Card Sales Division.
He is regarded as a hands-on leader with experience in a wide range of credit card sectors, including marketing strategy, credit sales planning, customer lifecycle management (CLM), and financial sales.
Hyundai Card introduced the co-CEO system in 2021. Vice Chairman Chung has focused on long-term future strategies, such as driving innovation, transforming the company into a tech enterprise, and improving the company's structure.
The 'management-type CEO' is delegated authority over overall management by Vice Chairman Chung and focuses on management, efficiency improvement, and operational stabilization.
Hyundai Card explained that it considers Cho to be the right person to fulfill the role of management-type CEO.
A Hyundai Card official stated, "We expect that the new CEO's management and communication skills, combined with Vice Chairman Chung's insight, will create synergy and make a significant contribution to Hyundai Card's mid- to long-term growth."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
