Hyundai Elevator: Hyun Jeong-Eun Resigns from the BOD Chairwoman Position

• On 17 November, Hyun Jeong-Eun resigned from the Hyundai Elevator Co Board of Directors Chairwoman and internal director positions, mainly due to strong pressures from other major shareholders.

• With Hyun Jeong-Eun finally out of the company, Hyundai Elevator is likely to emphasize on improving its corporate governance.

• Hyundai Elevator is considering new shareholder return policies, including a potential 50%+ dividend payout, higher share buybacks, and a mandatory minimum dividend yield.

Conclusion First

Finally, Hyun Jeong-Eun has been forced to resign as the BOD Chairwoman of Hyundai Elevator, which she has held this position for over 20 years since the death of her husband. Looking back these last two decades, she probably did more harm on the company than raise value to its shareholders. Therefore, we believe that Hyun Jeong-Eun being forced out of the company is a major positive move for the company.