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Seoul, Korea / Neu-Isenburg, 14 January 2022
Hankook & Company, the holding company of #hankook Tire & Technology, announced a series of appointments reflecting the Group’s commitment to accelerating growth and innovation in a dynamically changing business environment. The new positions are effective as of 1 January 2022.
The announcement is headlined by the appointment of current CEO #hyunbumcho as Chairman of #hankook & Company. Previous CEO #yangraecho, who led #hankook to become the sixth-largest tyre company in the world and elevated the brand’s status as a leading global tyre company, now serves as the Honorary Chairman of the Group.
Chairman #hyunbumcho first joined #hankook in 1998, subsequently becoming the head of the Marketing Division and Business Strategy Division. As CEO of #hankook, Cho was instrumental in driving the company’s growth in the global market and establishing the premium image of the #hankook brand. He led the way in securing major investments in China, Hungary and the U.S., expanding the company’s portfolio of production capabilities to eight locations worldwide. As a result, #hankook recorded aggregate sales of 6.45 trillion KRW (4.79 billion EUR) in 2020 and claimed the sixth spot on the list of the world’s largest tyre brands in the midst of a volatile economy brought on by COVID-19.
Under Hyunbum Cho’s leadership, #hankook evolved into an open, horizontal organization. He created an autonomous working environment fostering creativity and innovation, and strengthened the company’s commitment to ESG (environmental social governance) by directly handling all related initiatives. He has also particularly shown his keen foresight for new growth areas and business opportunities, as more recently was demonstrated in November 2021 with the acquisition of a 57 % stake in Preciseley Microtechnology Corporation, a Canadian micro-mechanical (MEMS) company. Cho’s expanded role as Chairman of #hankook & Company allows him to continue strengthening the core business competitiveness and lead the Group into the future.
In parallel, #hankook announced the appointment of three Executive Vice Presidents, three Senior Vice Presidents, and fourteen Vice Presidents who are tasked with leading the company through challenges headlined by the ongoing pandemic and a volatile global economy.
Bonhee Ku has been promoted to Executive Vice President, reflecting his contributions in leading the technological innovation at #hankook – including the development next generation EV and UHP tyres (Ultra-High-Performance tyres). #sanghoonlee, who previously led the Europe Headquarters, is now Executive Vice President after having achieved dramatic growth in the UHP tyre segment for #hankook in Europe, the largest market for the company.
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