Wall Street Hits Record High as AI Chip Stocks and Strong U.S. Jobs Data Boost Markets 
CoreWeave Q1 2026 Revenue Surges as AI Infrastructure Demand Grows 
Asian Stocks Slide as Iran Tensions Escalate Despite Strong Weekly Gains 
Malaysia Unveils Energy Security Plan Amid Iran Conflict and Rising Oil Costs 
Saudi Aramco Q1 Profit Jumps 25% as Strait of Hormuz Crisis Reshapes Oil Exports 
Morgan Stanley Bets on Optical Component Stocks in Greater China Tech Sector 
Trump Invites Top CEOs Including Nvidia, Apple, Boeing to China Summit With Xi Jinping 
Asian Stocks Rally as Japan’s Nikkei Hits Record High on U.S.-Iran Peace Optimism 
U.S.-China Beef Trade Deal Hopes Rise Ahead of Trump-Xi Summit 
China-Made Fireworks Power U.S. Independence Day Celebrations Amid Trade Truce 
Lufthansa Q1 Loss Narrows as Strong Summer Travel Demand Boosts Outlook 
Judge Delays SEC Settlement With Elon Musk Over Twitter Stock Disclosure Case 
UOB Q1 Profit Meets Expectations as Loan Growth Offsets Lower Interest Rates 
Sony Forecasts Lower 2027 Profit Despite Strong Music and Sensor Growth 
JD Sports Backs Nike CEO Elliott Hill Amid Brand Turnaround Efforts 
Trump-Xi Meeting 2026: U.S.-China Trade Tensions Escalate Ahead of Beijing Summit 
TikTok Nears $400 Million Settlement With Trump Administration Over Child Privacy Lawsuit 
Hyundai Motor Group will be reshuffling its executives before the year ends and will appoint new design and R&D chiefs. The company will make the appointment this week and mentioned Friday as the latest day.
Hyundai Motor is assigning new chiefs as it is looking to take another step forward in the fast-changing mobility market. It was mentioned that the automaker is mulling on replacing its executives who are based abroad such as the R&D and design heads. Sources said that the plan was shared during its annual personnel reshuffle of executives.
As per The Korea Times, Hyundai Motor will be replacing its president and chief of design management, Peter Schreyer. The company will also appoint someone to take over the role as Hyundai-Kia’s research and development division president and head from Albert Biermann.
This is the second time that Hyundai Motor is reshuffling its personnel under the leadership of chairman Chung Euisun who took office in October of last year. The first reshuffle was held in December 2020 and he appointed several executives that he trusted such as Hyundai Motor’s chief executive officer, Chang Jae Hoon.
The Korea Economic Daily reported that the South Korean automaker’s plans for a major overhaul of its design and R&D units is a strategy for future mobility. Initially, the company intended to announce the changes in its executive lineup on Dec. 10 but it was postponed to expand the management reshuffle.
“Apparently Hyundai Motor Group deemed that its originally planned management change was not extensive enough to allow it to take the lead in the global auto market,” KED Global quoted an insider as saying. “The delay means the group needs time to increase the extent of the reshuffle.”
The carmaker is planning a nice retirement for both Schreyer and Biermann who the company said have greatly contributed to achieving the global success of Hyundai Motor. The latter was given credits as the key executive who improved the vehicle performance of Hyundai and Kia models. As for Schreyer, since he joined the company in 2006, he has dedicated his time and efforts to establishing the design identity of Hyundai and Kia.
“Biermann and Schreyer are top contributors who escalated Hyundai and Kia to global brands,” the source stated. “But the group has decided to replace them with new people to dominate the future mobility markets.”
