SEOUL, Korea, July 31, 2023 - Hanon Systems (KS:018880), a leading global supplier of automotive thermal and energy management solutions, today announced CEO Min Suk Sung has tendered his resignation, effective today.

Hanon Systems plans to appoint Nurdal Kücükkaya and Ramachandran (Subu) Nagasubramony as co-CEOs to lead the company, subject to board of director approval to be confirmed at the upcoming regular meeting on Aug. 10.

Kücükkaya has been serving as a representative executive officer of Hanon Systems and Nagasubramony has been serving as the company's chief financial officer (CFO) since Jan. 1, 2019.

About Hanon Systems
Hanon Systems is a full-line supplier of automotive thermal and energy management solutions for electrified and conventional vehicles. Its offering includes a wide range of solutions in the areas of heating ventilation and air conditioning; powertrain cooling; compressor; fluid transport; and electronics and fluid pressure. The company currently operates 53 manufacturing sites and three regional innovation centers, and employs more than 21,000 people across 21 countries. To learn more, visit hanonsystems.com.

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SOURCE Hanon Systems