Kia replaces co-CEO after recall

By Reuters
Posted Sep. 7, 2010 at 7:59 a.m.

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 has resigned.

Kia’s former president, Lee Hyoung-keun, was named to succeed Chung, company spokesman Michael Woo said.

Chung resigned the same day Kia, which is 39 percent-owned by Hyundai, recalled more than 35,000 cars in the United States and more than 104,000 vehicles globally for fire-prone electrical wiring systems.

“[Chung] resigned amidst an ongoing recently announced recall,“ said Woo, declining to say whether the recall was the reason Chung decided to step down.

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