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Hyundai Motor reassigns 17 top execs to make way for fresh ideas

SEOUL — South Korean conglomerate Hyundai Motor Group shook up its executive ranks on Tuesday and appointed its first foreign head of research and development, raising expectations of a smooth transition of power at the family-run business empire. The reshuffle, first reported by Reuters on Tuesday and confirmed by Hyundai on Wednesday, is part of preparations for generational change in the executive ranks at South Korea's second-largest family-owned business empire. Group President Albert Biermann, a German former BMW executive, was named head of research and development, replacing longtime executives Yang Woong-chul and Kwon Moon-sik. The move was seen as a significant step to bring in fresh ideas at the Korean-dominated group. In all, 17 top executives were reassigned across the group including at Hyundai Motor Co and Kia Motors Corp — which together form the fifth-biggest automaker in the world. The move follows the promotion of Euisun Chung in September to Hyundai Motor's executive vice chairman, moving him closer to succeeding his 80-year-old father, Mong-Koo Chung, as group chairman. It comes as Hyundai Motor Co battles to reverse falling profits as a result of U.S. recall costs and weak sales in the U.S. and Chinese markets. Hyundai Motor Co shares jumped as much as 9 percent to their highest level since Oct. 10, while shares in affiliates like Hyundai Mobis, Hyundai Wia and Hyundai Glovis also rallied. While the announcement by Hyundai on Tuesday of a major investment in fuel cell production also lifted sentiment, analysts said most of the share price rise could be attributed to the leadership changes. In particular, it signaled that the junior Chung was making progress with his plans to restructure the sprawling group after a previous plan was scrapped due to opposition from U.S. hedge fund Elliott. "The reshuffle signals that the junior Chung is tightening his grip on the conglomerate, a move which raises investors' hopes for change," said Kim Joon-sung, an analyst at Meritz Securities. Ascendance of outsiders In a sign that Chairman Chung's grip may be weakening, one of his closest lieutenants, Hyundai Motor Co Vice Chairman Kim Yong-hwan, was reassigned away from the core automaker and named vice chairman of steelmaking affiliate Hyundai Steel.

2018 Kia Stinger GT Long-Term Review Update | A romp in the snow

After driving a slew of family sedans and crossovers, I was excited to take home our hard-charging, corner-craving 2018 Kia Stinger long-term car for a weekend of some sports car fun. Then Saturday came, bearing between three and four inches of snow and single digit temperatures. Lovely. But, the weather did offer an opportunity to put the Stinger through its first serious snow of the season, as well as the snow tires Nokian generously donated to us. And the big sedan hatchback did fine in the snow, but not exceptionally well. I appreciated the extra traction from the front wheels, which helped make crawling out of the deep snow in my driveway and accelerating through corners and at intersections easier. I didn't have much trouble breaking the rear wheels loose, either, confirming that the Stinger does indeed have a rear-wheel bias. Fortunately, it was pretty easy to control when the car would break traction, but it was easy enough that it felt as though the all-wheel-drive and traction control weren't doing much to optimize traction until the car really got loose. Then the traction control would quickly bring the car to a crawl to stabilize it. Cornering and braking were just OK, and it seemed to mostly be hampered by the Stinger's roughly 4,000-pound curb weight. I could feel that the car really wanted to keep forging straight ahead, and if I turned too fast or braked too late, it would take its opportunity to do so. Naturally this applies with any large vehicle, but it still feels surprising considering how agile the Stinger is on dry pavement. I hate to think what it would have been like driving the Stinger without the snow tires. On the low-profile all-seasons, I'm sure the traction control would be having conniptions, and I'd be crawling through corners and up to stops. Leaving my driveway probably would have taken a few forward and back attempts, too. Aside from the driving experience I was immensely grateful for the heated seats and steering wheel, both of which seemed to warm up quickly. Boy, though, I sure wish the Stinger had remote start. I'm sure it's not great for the environment, but oh how I wish I could have stepped out the door to an already toasty cabin this weekend. So there you have it. The Stinger GT definitely loses a lot of its fun character in the snow, but it will get you through it. And when things clear up, you'll be happy to have something sporty on hand.

Kia recalls 12k 2016 Sorento models for faulty accelerator pedal

Kia is recalling 12,361 examples of the 2016 Sorento in the US because the accelerator pedal may stop working correctly. All of the affected vehicles were made between October 27, 2014, and January 29, 2015. According to the recall documents submitted to the National Highway Traffic Safety Association, a capacitor on the circuit board for the accelerator assembly may be improperly soldered. This can trigger a fault, causing the 2016 Sorento enters Limp Home Mode or in some other cases go into Forced Idle Mode, which only allows idling speed. In either situation, the check engine or electronic stability control lights would likely illuminate, according to Kia. Still, if this fault occurs, the lack of acceleration can put drivers in danger. To repair things, Kia will replace the entire accelerator pedal assembly with an improved unit. Changing out the parts will take about an hour, and obviously this will be done at no cost to owners. According to the NHTSA documents, there have been no accidents or injuries as a result of this problem. You can also read Kia's FAQ to owners and the full report on the recall in PDF format, as well. Related Video: RECALL Subject : Vehicle may not be able to Accelerate Report Receipt Date: FEB 13, 2015 NHTSA Campaign Number: 15V089000 Component(s): VEHICLE SPEED CONTROL Potential Number of Units Affected: 12,361 All Products Associated with this Recall Vehicle Make Model Model Year(s) KIA SORENTO 2016 Details Manufacturer: Kia Motors America SUMMARY: Kia Motors America (Kia) is recalling certain model year 2016 Sorento vehicles manufactured October 27, 2014, to January 29, 2015. Due to an improperly soldered component in the accelerator pedal assembly, the driver may not be able to accelerate the vehicle. CONSEQUENCE: If the vehicle is unable to be accelerated, there is an increased risk of a crash. REMEDY: Kia will notify owners, and dealers will replace the accelerator assembly, free of charge. The recall is expected to begin in February 2015. Owners may contact Kia customer service at 1-800-333-4542. Kia's number for this recall is SC115. NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov.