Hyundai Names New China Head After Vendor Disputes, Sales Slide
- Korean executive shunted out after halt in production
- Automaker also suffered from backlash due to geopolitics
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Hyundai Motor Co. appointed a new chief for its China operations after payment disputes with vendors resulted in temporary shutdowns last month at four of its factories in the automaker’s biggest market.
Tao Hung Tan replaced Chang Won-shin as the chief executive officer of Beijing Hyundai Motor starting Sept. 1, the Seoul-based company said in an email Monday, without elaborating on the reasons for the change. Hyundai Motor’s joint venture with BAIC Motor Corp. in China has five factories, of which one isn’t operational yet.