Dr. Park succeeds Mr. Mong-Hun Chung who resigned from both the chairmanship and directorship of HEI board of directors as of June 1, 2000. Dr. Park joined HEI in 1983 and was appointed as President and CEO of HEI last April. “Dr. Park has proven his leadership in the successful management and growth of global business operations,” said Young Sohn, President and CEO of Oak Technology and an outside independent member of the HEI Board of Directors and also a member of HEI board’s nominating committee. “He will be a successful catalyst in accelerating HEI’s turnaround efforts.” Dr. Park holds an MBA from University of Chicago and has extensive experience with western business practices. His expertise will facilitate the transformation of HEI into a global company capable of operating on par with well-managed U.S. public corporations. Dr. Park is currently Chairman of Maxtor Corporation’s Board of Directors. “The Board has chartered me to develop HEI into one of the most competitive corporations in the world within the next few years, incorporating western standards for transparent corporate management,” said Dr. Park. “With strong support from the Board, I will accelerate our restructuring in order to better manage the balance sheet, rationalize capital expenditure and investment, and upgrade the global business infrastructure with a renewed focus on core competencies.”
– Hyundai Electronics Industries Co., Ltd. (HEI) today announced that its Board of Directors has elected Dr. Chong-Sup Park as the new Chairman of the Board.
