Hyundai Motor Group has promoted Jaehoon (Jay) Chang to co-president and CEO of Hyundai Motor Company.

Chang previously headed the Korea business and Genesis divisions.

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"He is the right fit to spearhead the company's innovations and changes," the automaker said in a statement. 

Current president Wonhee Lee "will focus on securing competitiveness in future mobility businesses. Key areas include optimising global businesses, innovating value chains in areas such as electrification, smart factories and strengthening synergy in technology development, the automaker said.

Kyu Oh Lee, a SVP and a development chief for Hyundai and Kia, was promoted to EVP. 

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Lee headed the development of the electric global modular platform (E-GMP) for the Hyundai, Kia and Genesis brands. 

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Saehoon Kim, head of the fuel cell centre, was promoted to EVP. HMG said Kim "possesses world-leading expertise in the field of fuel cell and has led the enhancement of the group's future electrification businesses". 

Dong Jin Hyun, head of the robotics lab was promoted to VP.

HMG is acquiring a controlling stake in Boston Dynamics from Japan's SoftBank Group in a deal that values the US robotics firm at US$1.1bn

Sung Hwan Cho, EVP of Hyundai Mobis R&D and the automotive electronics business unit, was promoted to President and CEO.

Cho is expected to strengthen Hyundai Mobis capabilities in future technology and new businesses based on his experiences as the EVP of Hyundai Motor Group R&D and CEO of Hyundai Autron.