Seoul: Hyundai Merchant marine has announced that 61-year-old Kim Seong-man, the former vice chairman of Hankuk Glass Industries is to take over from Noh Jeong-ik as company ceo. 'I will make my utmost efforts to help Hyundai Merchant become one of the world's leading companies,' Kim said in a statement released by the HMM.
Kim's appointment to the board is still subject to shareholder approval in March. Although HMM provided no further information about Noh's departure, local newspapers are said to have reported that the departure of Noh comes at a time when parent company Hyundai Group chairwoman Hyun Jeong-eun, is trying to bolster her influence on the group's affiliates. Noh's tenure was originally due to expire in 2009. [15/01/08]
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