Email
Print
ShareNew Delhi: Hyundai Motor India announced the transfer of managing director & CEO H S Lheem back to the South Korean headquarters with effect from Thursday.
HW Park, currently a senior executive director (administration) and CFO, will succeed Lheem. Park comes in at a time when Hyundai, along with other auto exporters, is facing uncertainty in exports because of the global meltdown.
Though the company continues to retain the top position among car exporters from India, it has been toying with the idea of shifting some of the 'i20' exports out of the country.
Also, there has been an increasing buzz about Hyundai actively considering capacity expansion in India beyond the current six lakh units per year capacity at Chennai.
Park is an old India hand, having spent close to six years with the domestic operations in various capacities. His strength? Finance and administration.
Lheem took over reins in India in December 2005 after a stint in Turkey and was the longest serving chief of Hyundai in India.
He oversaw the commissioning of Hyundai's second manufacturing plant in near Chennai last year and HMIL launched new models like the Verna, i10 and the i20 under his leadership.
