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South Korean automaker Kia Motors, on the heels of a global recall of more than 100,000 vehicles, said Tuesday it has named a new vice chairman to replace Chung Sung-eun, who had resigned.
Kia Motors CEO steps down after recall
Seeded on Tue Sep 7, 2010 9:00 AM EDT
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- Public Discussion (2)
"[Chung] resigned amidst an ongoing recently announced recall," said Woo, declining to say whether the recall was the reason Chung decided to step down.
- 1 vote
#1 - Tue Sep 7, 2010 9:03 AM EDTPossibly--and it is quite telling if the recall was the reason behind his resignation. Most corporations expect that, in the middle of a crisis, the people/team at the top will absolutely step forward and make things right, no matter what it takes.
This reminds me of a man who stayed at the helm of a very big company during a crisis: Lee Iacocca. Perhaps Mr. Chung could have asked Iacocca for a pointer or two on how to handle a crisis that could take you (and the company!) under.
Of course, the decision could've always been that of the company/its investors and this was a forced "resignation" but the fact that he decided to step down makes me think that the man simply found the crisis far more complex than he cared to deal with at Kia--and that says a ton about Kia's ability to find a CEO, but far more about Mr. Chung himself.
- 2 votes
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