At Kia, Demoted for His Own Good

Ahead of probable union troubles, co-CEO Chung Eui Sun, a son of the founding family, has been rotated out. Most think it's to save his reputation
Chung Eui-Sun, President of Kia Motors speaks during the launch of the company's 'cee'd'' car at the Kia Motors factory in Teplicka Nad Vahom near Zilina, Northern Slovakia, 07 December 2006. Getty Images

At most companies, a decision by shareholders to strip a chief executive officer of his title would be a humiliating blow to the outgoing executive. That's not necessarily the case in South Korea, even when it appears to be a demotion for the scion of a founding family of the chaebol, the sprawling industrial conglomerate.

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