Hyundai-Kia Shuffles Three Executives in China as Sales Slide

Hyundai Motor Co. and its Kia Motors affiliate have replaced three of its top executives for China to help revive sales there, Reuters reports.

The moves come after Hyundai and Kia posted China sales declines of 32% and 33% drops, respectively, in July.

The new head of Hyundai's venture with Beijing Automotive Industry Holding Co. is Lee Byung-ho. Taking over leadership of Kia's venture with Dongfeng Motor Corp. is Kim Gyun. The executives they replace have moved to advisory roles, according to the companies.

Hyundai-Kia also named Tan Tao-Hung to head the China business strategy for both carmakers. He will be based in Seoul.