Hyundai Motor chairman to give up board seat as succession looms

Hyundai Motor Group Chairman Mong-Koo Chung plans to give up his boa...

FILE PHOTO: Hyundai Motor Group Chairman Chung Mong-koo arrives to attend a hearing at the National Assembly in Seoul, South Korea, December 6, 2016. REUTERS/Kim Hong-Ji/File Photo

The company said on Wednesday it would propose Chief Financial Officer Kim Sang Hyun as a replacement for Chung on the board. Shareholders will vote on the proposal during a meeting on March 19.

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