SEOUL (Reuters) – Hyundai Motor nominated Jaehoon Chang, global head of its premium Genesis brand, as the co-CEO and president on Tuesday, it said in a statement.

Lee Won-hee, existing president and co-CEO, will focus on securing a competitive edge in future automotive businesses such as optimizing global businesses and strengthening technology development, the automaker said.

(Reporting by Joyce Lee; Editing by Shri Navaratnam)

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