Hyundai Secures New Chairman: Nepotism or Sagacity?
It’s often difficult to keep track of who is heading which automotive conglomerate. Topps never issued a trading card line devoted to industry professionals and there’s no show we’re aware of that catalogs the corporate history of car manufacturing focused entirely on management. Whenever someone is named in a car documentary, it’s only because they were incredibly important to the program or instrumental in seeing the company through a difficult period. That, or they happened to be one of those people’s damned children.
Nepotism is a problem in most industries but the automotive sector seems to be among the worst offenders. While some amount falls within the acceptable parameters rooted in the familial ties of yesteryear, when these businesses were much smaller entities, plenty of placements seem designed to keep wealthy offspring occupied through adulthood. It’s probably a sweet gig if you can get it but the phenomenon itself makes it difficult to determine which blood-related hires are placeholder people and who’s the genuine article.
For example, Hyundai Motor Group has just appointed Eui-Sun Chung (49) as its new chairman. He will be succeeding his father, Mong-Koo Chung (81), and comes from the automaker’s founding family. But there’s plenty of evidence to suggest Chung may actually be the ideal man for the job.