Hyundai Elevator Co. Chair To Step Down

Hyundai Group Chairwoman Hyun Jeong-eun will step down in December as chair of the board of directors at the group’s elevator unit to help improve its governance structure, the company has announced, Yonhap News Agency reports. Hyun tendered her resignation from the chair position of Hyundai Elevator Co. at the company’s board meeting, the company said in a statement. “Faced with growing demand for an advanced government structure in businesses, (I think) Hyundai Elevator also needs to respond to calls for board of director-centered management decisions,” Hyun said in the statement. Hyundai Elevator will form a new board of directors at an extraordinary shareholders meeting on December 29, and the new board of directors will select a new chairperson.