Automakers

Hyundai rebuffs activist investor's demands, setting up showdown

Hyundai Mobis and Hyundai Motor announced plans on Tuesday to appoint Euisun Chung as co-CEO. (REUTERS/Bloomberg)
HJ
By:
HYUNJOO JIN
R
By:
Reuters
|
February 26, 2019 12:47 PM

SEOUL — Hyundai Motor Group on Tuesday rejected demands by U.S. activist investor Elliott Management for a combined 7 trillion won ($6.3 billion) dividend payout and new board members, complicating efforts to revamp South Korea's second-biggest conglomerate.

Staying current is easy with newsletters delivered straight to your inbox.