Deals
Inside Hyundai Heir's Plan to Fend Off Elliott Attack
- Group’s scion says shareholder returns are ‘just beginning’
- Carmaker’s founding family faces key vote on merger this month
This article is for subscribers only.
With one of the most tenacious activist investors breathing down his neck, Hyundai Motor Group’s crown prince is preparing to defend his family’s dominance of the world’s fifth-largest automotive empire by seeking to win over shareholders ahead of a looming showdown.
After announcing about 1.6 trillion won ($1.5 billion) in buybacks and stock cancellations in the past month, shareholder returns are “just beginning,” Vice Chairman Euisun Chung, the 47-year-old son of the group’s octogenarian patriarch, said in a rare impromptu interview at a Hyundai innovation center event in Seoul this week. “Our shareholder policies unveiled so far are not everything we have.”