Hyundai Motor Group announced today that Peter Schreyer and Albert Biermann are leaving their respective roles at the company. Chung-Kook Park will replace Biermann as head of its R&D Division, while Lee Sang-yup, head of Hyundai’s global design center, will assume Schreyer’s role after being promoted to an executive VP position. The reshuffling arrived just over a year after Euisun Chung took over as chairman of Hyundai Motor Group.
The two won’t be completely leaving the company, though. Schreyer will serve as a design advisor and Group ambassador as Biermann will continue working as a technical advisor. Both will develop and nurture future designers and engineers.
Gallery: Hyundai Prophecy concept
The executive shakeup goes far beyond just Biermann and Schreyer, as the automaker announced 200 executive promotions “in response to rapid changes” in the industry, the largest number to date for the company. “Many of the new appointments represent the next generation of leaders and have been recognized for their achievements and role in the ongoing success of the Group,” the company said in a statement.
The promotions focus on future technology and new business opportunities, like autonomous driving. Thirty-seven percent of Hyundai’s appointments are within the R&D Division, and, according to Financial Times, a third of the newly promoted are in their 40s.
Schreyer, who has been with Hyundai since 2006, penned several Kia, Hyundai, and Genesis designs. Biermann joined the company in 2015 after a decades-long career at BMW, leading the effort to bring Hyundai’s N performance sub-brand to fruition. Hyundai Motor Group is investing buckets of money into future technologies, like Evs and semi-self-driving technologies, announcing $7.4 billion in funding to build EVs in the US. The company hopes that 30 percent of its global sales are zero-emission vehicles by 2030, with that number jumping to 80 percent by 2040.
Sources: Hyundai, Financial Times
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