Nexen Appoints Samsung Recruits as CEO and VP Sales

Nexen Tire has elected H.B. Lee as Nexen Tire vice chairman and CEO along with the appointment of Byung-Woo Lee as vice president sales division. Hyun-Bong Lee, the former CEO of Samsung Electronics, was elected as vice chairman and CEO in the meeting at the KOSPI 200 company’s recent annual shareholders meeting.

In spite of the economic downturn in 2009, last year Nexen Tire broke its all it records with sales of $760 million, 28 per cent up over 2008. According to the company, “this outstanding performance came from aggressive marketing strategy to US and European markets and uplifting brand power in Korean domestic markets.”

Byung-Woo Lee joins Nexen as vice president of sales division and, like new CEO Hyun-Bong Lee, joins from well-known electronics firm Samsung. In his new role BW Lee will be in charge of sales and marketing domestically and also in overseas markets.

BW Lee is a Samsung Electronics veteran with 30 years experience. Previous roles include president of the company’s Poland and Russia subsidiary. He was in charge of Middle East & Africa sales. Most recently, he was served as CMO of Samsung Techwin. According to a statement announcing his appointment, he will be focused on enlarging domestic sales and global marketing strategy.

In response to his appointment as Nexen’s new CEO, H.B. Lee commented: “I’ll do my best to continue Nexen Tire’s bullish trend in exports and to make the company a representative tyre maker in Korea…By expanding supplies to the major car makers and strengthening sports marketing such as ‘Nexen Heroes Baseball Team’ sponsorship, we’ll be expanding domestic market share as well.”

Related News:

• Editor’s Comment: EU-Korea Free Trade Agreement Will Aid Tyre Sales

• The Market is Ripe for Korean Tyre Makers

• New Nexen President Opens Middle East Office in Dubai

• Nexen to Invest 1 Trillion Won in New South Korea Factory