Creditors name new Kumho Tire senior management

Kim Jong-ho will likely return as president and chief executive officer of Kumho Tire. The 70-year old, who held these positions from 2009 until his retirement in 2012, has been recalled by the tyre maker’s creditors to head the loss-making company. During his previous tenure, Kim led Kumho Tire through the early years of its debt workout programme. The creditors will seek approval for Kim’s appointment at a Kumho Tire extraordinary shareholders’ meeting on 1 December.

They will also seek approval for the appointment of Han Yong-seong, who has been named to take on the position of vice-president. Han will join the tyre maker from creditor Woori Bank.

After Park Sam-koo stepped down as chairman of Kumho Tire and gave up his first right of refusal over the tyre maker in September, the creditors appointed Sohn Bong-young, senior executive vice-president, the company’s “temporary representative.”