Seoul, November 17: Hyundai Group Chairwoman Hyun Jeong-eun will step down as chair of the board of directors at the group's elevator unit next month to help improve its governance structure, the company said. Hyun tendered her resignation from the chair position of Hyundai Elevator Co. at the company's board meeting, the company said in a statement. Amazon Partners Hyundai To Start Selling Cars On Its Website in Second Half of 2024

"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, reports Yonhap news agency. Hyundai Motors, Kia Partner with German Automotive Chipmaker 'Infineon Technologies AG' To Secure Power Semiconductor Supply Chain

Hyundai Elevator will form a new board of directors at an extraordinary shareholders meeting on Dec. 29, and the new board of directors will select a new chairperson, the statement said.

(The above story first appeared on LatestLY on Nov 17, 2023 10:39 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website