INDIA: Hyundai to put more nationals in charge
Hyundai Motor India has kicked off a major restructuring drive that will see the company replace expatriate Koreans with Indian executives in key decision making roles over the next two years.
Sanjay Pillai, vice president HR, HMI, told The Times of India: "Right now 89% of all department heads in HMI are Indian and the target is to hit 100% by 2014.
"This is part of a drive within the company to empower Indian executives. We are consciously working towards having Indians in key decision making roles. From a headquarter point of view, the global management is clear that host country nationals should manage the show in mature operations and, since HMI is one of the oldest and more successful overseas investments by the parent, this drive has kicked off here."
This is a process also under way in some European markets. In the UK Hyundai and Kia have appointed British presidents. In another key move towards internationalisation, Peter Schreyer has been made president of design for both brands.
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A government decree which it made practically impossible to register new trucks above 10.5 tonnes this year - to protect smaller transporters - resulted in truck sales falling 33% from 2,365 to 1,583 ...
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