SOUTH KOREA: SAIC appointee heading for Ssangyong board
China's Shanghai Automotive Group, which took over South Korean SUV maker Ssangyong Motor in October last year, plans to appoint one of the group’s executives to Ssangyong’s board.
China’s Shanghai Automotive Group, which took over South Korean SUV maker Ssangyong Motor in October last year, plans to appoint one of the group’s executives to Ssangyong’s board.
“Jiang Zhiwei will be appointed to Ssangyong’s nine-member board during an extraordinary shareholders’ meeting scheduled for January 27, the day when Shanghai Automotive Industry Corp. (SAIC) has to complete payment for the takeover,” Ssangyong spokesman Choi Jong-Bok said.
Choi added that no decision has been made on whether Jiang, who is also SAIC vice president, will serve as Ssangyong’s president, replacing Soh Jin-kwan.
Peter Chang
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