Hanon Systems Changes Executive Structure; Appoints New CEO

SEOUL, South Korea, Jan. 17, 2021 /PRNewswire/ -- Global automotive supplier Hanon Systems (KS: 018880) today announced its board of directors has approved an executive structure change that reduces its representative officers from three to two. The new structure is effective immediately.

Since 2019, Hanon Systems has been led by three representative executive officers: Jeong Won (Jay) Son, president and chief executive officer; Nurdal Kücükkaya, president; Min Suk Sung, executive vice president.

Aligned with this change, Jay Son, who joined the company at its inception in 1986, transitions to the new role of vice chairman and relinquishes his day-to-day responsibilities to serve as an executive advisor to the company. Min Suk Sung succeeds Jay Son as president and chief executive officer. He serves as co-lead of the company along with Corporate President Nurdal Kücükkaya.

Hanon Systems Chairman of the Board and Chairman of Hahn & Company, the company's majority shareholder, Yeo-Eul Yoon said, "Hanon Systems is well-positioned to continue delivering shareholder value through its innovative automotive thermal and energy management solutions. Speaking on behalf of the board, we remain confident in the ability of Min and Nurdal to lead this company, and further maximize operational efficiency and exceed customer expectations, and we thank Jay for his many contributions that have laid the solid foundation we have today."

About Hanon Systems
Hanon Systems is a full-line supplier of automotive thermal and energy management solutions for electrified and conventional vehicles. Its offering includes a wide range of solutions in the areas of heating ventilation and air conditioning; powertrain cooling; compressor; fluid transport; and electronics and fluid pressure. The company currently operates 51 manufacturing sites and three technical innovation centers, and employs more than 21,000 people across 21 countries. To learn more, visit hanonsystems.com.

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SOURCE Hanon Systems