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Hyundai promoting younger execs in bid to 'smoothen an eventual leadership succession'

Experience versus the next generation. It's the decision any organization has to make when it comes to its succession of leadership. But even companies that value wisdom over vitality will eventually have to hand the reins to a new generation of leaders. And that seems to be what the Hyundai Motor Group is preparing for. The Korean automaker has promoted three executives in their early 50s to the rank of Executive Vice President. Chief marketing officer Cho Won-hong (50), PR chief Kong Young-woon (50) and Kim Gyun (52), head of strategic planning at Kia, are all being promoted to the role, putting them in senior leadership positions at one of the world's largest automakers. Reuters frames the promotions as earmarked to "smoothen an eventual leadership succession" at Hyundai. The family-owned company is currently chaired by Chung Mong-koo (76), who has given little indication that he's preparing to step down in the near future. But when he does, he's widely expected to relinquish control to his only son, current vice-chairman and former Kia president Chung Eui-sun (44, pictured), who is said to have chosen the aforementioned US-educated Cho for the promotion. News Source: ReutersImage Credit: SAMUEL KUBANI/AFP/Getty Hirings/Firings/Layoffs Hyundai Kia

Heads up: Hyundai mostly reveals the Kona crossover

Hyundai is set to reveal its new Kona crossover to take on other funky compacts like the Kia Soul, Nissan Juke, and Toyota C-HR. But before it fully reveals the car, the company has mostly revealed the car in the form of new images and a teaser trailer. The photos show us both three-quarter shots from the front and the back, and the car is surprisingly well-lit. These photos give us our best look yet at the mean-looking split headlights of the Kona, as well as its iteration of Hyundai's corporate grille and upper scoop. The aggressive front end is matched by bulging fenders, thick black fender flares, and a deep, sculpted character line running down the side of the car. It looks like the Kona will also have a trendy contrasting roof, too. The aggressive front and sides come to a somewhat underwhelming conclusion at the back. The rear hatch looks like fairly generic Hyundai. But it does appear to be bolstered by some chunky-looking rear reflectors that house the reverse lamps. Those reflectors also appear to be surrounded by the same black material the fender flares are made of. The rear bumper, which is one of the few things that isn't visible, will likely also look fairly tough and rugged. The teaser trailer shown below doesn't reveal quite as much of the Kona, but it does highlight a feature of which Hyundai is rather proud: the heads-up display. It's the first heads-up display used on a Hyundai product, and it uses a pop-up panel onto which information is displayed. It works pretty much like the displays used by Mazda and Mini. So it isn't anything particularly remarkable, but the availability of a heads-up display is always nice, and the color projection does look attractive. Look for more details and the full reveal of the Kona later this summer.

Insider trading ahead of Hyundai-Kia MPG debacle suspected

Reuters is reporting that large-scale insider trading may be at the heart of some particularly fishy stock-selling behavior, just prior to the original announcement about the Hyundai-Kia fuel economy ratings debacle.
On November 1st, Hyundai-Kia shares traded roughly 2.2 million times (the single highest-volume day of the year), and the stock price fell by about four percent. For reference, a standard daily trading volume for the stock in 2012 saw about 600k shares trading hands. On November 2nd, the company made public the bad news about the dropping fuel economy ratings for many of its models. In other words: No one outside of the company (and only a smallish group inside the company, we'd imagine) should have known anything about the impending bad news as of the first day of November. After the announcement, the stock price tanked, as you'd expect, and trading volume was way down as well.
Experts seem fully aware that the whole thing reeks of leaked information and subsequent insider trading. If chicanery on this sort of scale seems wacky to you, you'd be inline with the experts who report to Reuters that the level of trading is absolutely suspicious.