Chairman & CEO Lee Jae-sung,; President Kim Oe-khyun of HHI’s shipbuilding, marine and plant businesses,; and 

Presdient Kim Jeong-rae of HHI’s engine, electronics, green energy, and construction equipment businesses.(photos: HHI)

Hyundai Heavy Industries (HHI) carried out a reshuffle on Nov. 21 in which President and CEO Lee Jae-sung was promoted to chairman, filling the vacancy left by former chairman Min Kye-shik in December 2011.

HHI said it has introduced a management responsibility system designed to cope with market changes, and this will serve as an opportunity to make a new leap forward by overcoming the market downturn.

President Kim Oe-hyun of the shipbuilding and marine business division will be in charge of shipbuilding, marine, and plant businesses, while Hyundai Corp. President Kim Jeong-rae, will be appointed HHI president charged with the firm’s engine, electronics, green energy, and construction equipment businesses, according to the statement.

In his inaugural speech carried in HHI’s companywide bulletin on Dec. 26, Chairman Lee said, “I’d like to make HHI a company of hope and a great company creating new values despite today’s hardships and difficulties.”

Lee told his executives and staff members to pledge themselves with a “changing me first” attitude by recognizing rapidly changing markets and trends of the times. “Changes bring on pains, but persevering will lay a foundation for HHI to rise to be a great company,” he said. 

Lee stressed that this should be done on the basis of changes and ethical management. He extended his thanks to his executives and staff members for exploring new growth engines and expanding foreign markets despite the difficulties brought on by the global recession.