Bahrain’s Al-Salam Bank appoints new chairman

Sheikh Khalid bin Mustahail Al-Mashani
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Updated 14 April 2020

Bahrain’s Al-Salam Bank appoints new chairman

Al-Salam Bank-Bahrain has announced the appointment of Sheikh Khalid bin Mustahail Al-Mashani as the chairman of the board of directors, replacing Khaleefa Butti bin Omair bin Yousif Al-Muhairi, who submitted his resignation as chairman and board member of the bank.
Sheikh Khalid said: “We regret to announce the resignation of our colleague, Al-Muhairi, as chairman and board member for personal reasons. We would like to take this opportunity to put on record our sincere thanks to Al-Muhairi for his instrumental contribution to achieving the bank’s objectives during his chairmanship since 2018. During his tenor, the bank was successful in acquiring market share, increasing profitability, and growing the deposit base and financing book.”
He added: “We, as board of directors, would like to confirm that the bank will continue its solid strides toward implementing the three-year strategy which is designed to gear us for further financial success in the local, regional and global markets. Building on our key core values of sound corporate governance, transparency and prudent financial policies, we plan to continue our journey toward maximizing shareholder value. We are confident that with our robust capital and liquidity positions and our strong management team, the bank will be able to navigate through current market challenges, including the outbreak of COVID-19 and its implications on the global economies.”
Sheikh Khalid has more than 24 years of banking experience.


Euisun Chung named chairman of Hyundai Motor Group

Updated 18 October 2020

Euisun Chung named chairman of Hyundai Motor Group

Hyundai Motor Group has announced the appointment of Euisun Chung, executive vice chairman, to the position of chairman of the group. Chairman Mong-Koo Chung was inaugurated to the position of honorary chairman.

Hyundai Motor Company, Kia Motors Corporation and Hyundai Mobis Co. each held board meetings to discuss the inauguration. All members of the boards unanimously endorsed the inauguration of Euisun Chung as the new chairman of the group.

The group will open a new chapter in its history under Euisun’s leadership. Embracing the vision “Together for a Better Future,” the group will develop and acquire key technologies and capabilities to overcome market uncertainties, including COVID-19.

In his inaugural remarks, Euisun presented the future direction of the group as one focused on customers, humanity, future, and social contribution.

“All of our goals and efforts must be customer-centric. The first step to customer happiness is to enable them to focus on their own lives through perfect quality of our products and services,” said the newly inaugurated chairman.

Over the years, Euisun has stressed the customer-centric approach and customer satisfaction, and applied the concept more broadly to all of humanity.

“For the free movement and prosperity of humanity, we will develop the world’s most innovative and reliable autonomous driving technology, offering entirely new mobility experiences,” said the chairman. Euisun is spearheading the group’s transformation from an automaker into a future mobility solution provider.

The group will offer mobility solutions tailored to customer lifestyles and continue to grow its market leadership in various fields, including autonomous driving, electrification, hydrogen fuel cell, robotics and urban air mobility (UAM).

The group recently formed a venture Motional Inc. with Aptiv to develop and deploy full autonomous driving technology. It is collaborating with partners around the globe to provide mobility services that meet the varying needs of different regions.

Furthermore, Euisun foresaw the powerful possibilities of hydrogen energy and championed the growth of the hydrogen ecosystem, with broad implementation of fuel cell technology beyond automobiles.

Mong-Koo Chung, new honorary chairman of the group, recently expressed his wish to move on and asked Euisun to lead the group’s future growth and innovation beyond the current challenges. He is widely acknowledged for his contribution to the advancement of the global auto industry, and was inducted into the Automotive Hall of Fame in 2020.

He brought Kia Motors into the group during the Asian financial crisis in the 1990s and turned the company into a successful global automaker. He also grew Hyundai and Kia into global automotive companies and advanced Korea as a leading nation in the automotive industry.