Hankook appoints new CEO, announces executive changes

Seoul, South Korea – Hankook Tire Co. Ltd. has promoted 29-year company veteran Soo Il Lee to president and CEO, saying he will serve alongside current CEO Hyun Bum Cho as a "separate representative" of the company.

Hankook did not elaborate on how Lee and Cho will share the CEO's duties.

Lee's promotion is one of nearly two dozen executive appointments the company is making to "respond to the global market and customers with more agility."

The appointments are effective 1 Jan, Hankook said.

Among Lee's roles during his 29 years with Hankook was a four-year assignment as senior vice president and chief operating officer of Hankook Tire America, from 2009-13. Most recently he was executive vice president and COO of the firm's China operations.

In his new role, Lee will oversee Hankook's management, using his experience as COO of the America and China operations and as the firm's chief marketing and corporate management officer.

In addition, Hankook disclosed that Vice Chairman Seung-hwa Suh, the firm's CEO since 2007, will retire but continue to serve in an advisory role.

Other key appointments include:

Executive vice president: Dong Whan Moon, currently COO of production division;

Senior vice presidents:

Sung Ho Chung, currently plant managing director of Chongqing, China, plant;

Seung Bin Lim, currently division director of marketing division; and

Sang Hoon Lee, currently department director of sales and strategy, China.

Vice presidents:

Yong Sub Chung, also managing director of Australia, Asia Region;

Eui Don Suh, also plant managing director of Jiaxing, China, plant;

Man Joo Kim, also department director of distribution, Asia Region;

Hyang Bong Kim, also team manager of Jiangsu, China, plant; and

Byung Hee Kim, also corporate management team manager, Americas.