Organizational Structure of Hyundai Motorsby Erik Arvidson
Hyundai Motor Co. is one of the largest manufacturers of passenger cars and sport utility vehicles in the world. Headquartered in Seoul, South Korea, Hyundai is South Korea’s largest automaker. In 2009, Hyundai sold about 2.8 million vehicles worldwide.
Hyundai’s manufacturing operations are based in South Korea. However, as of 2010, the company also has six overseas plants in China, India, Turkey, the United States, the Czech Republic and a Russian plant scheduled to open in 2011. Hyundai sells vehicles in 193 countries and has about 120,000 employees (as of 2010).
As of 2010, Hyundai’s top executives include: Kang Ho Don, the co-chief executive officer (CEO) and vice president; Yang Seung, the president and co-CEO; and Chung Mong-Koo, the chairman and co-CEO.
Hyundai produces compact and luxury cars, sport utility vehicles (SUVs), minivans, trucks, buses and some commercial vehicles. In North America, Hyundai sells the Hyundai Accent, an economy car, and the Hyundai Sonata, a mid-sized sedan.
In 1998, Hyundai became South Korea’s largest automaker after acquiring a 51 percent stake in Kia Motors, which as of 2010, had been reduced to about 34 percent.
Hyundai’s corporate governance structure includes a nine-member board of directors (including four internal directors and five external directors), an audit committee, an ethics committee and a committee to recommend external director candidates.