Hyundai Group News

HMM May Hire Foreign CEO for Revival

 Hyundai Merchant Marine (HMM) will start the process to appoint a new chief executive officer (CEO) when Hyundai Group loses control on Aug. 5, reports Korea Times quoting un-named industry sources.   The challenged shipper will begin a new chapter in its 40-year history, breaking free from Hyundai Group and becoming a subsidiary of Korea Development Bank (KDB).    KDB is bent on installing a new leadership at the shipping line and is open to hiring a foreign chief executive. To make a pool of candidates, the creditor reportedly appointed a number of executive search firms.