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Hyundai Mobis' latest plan brings to mind one image: A damp squib, again

Even if Mobis's latest resolutions get passed in March, investors shouldn't get too excited

Hyundai Mobis

Hyundai Mobis

Anjani Trivedi | Bloomberg
The South Korean chaebol’s auto-parts unit released an outline Tuesday evening to “maximize” shareholder value. It’ll do anything but that.

The company also formally proposed family heir Euisun Chung as CEO of the unit, which has been under fire by Paul Singer’s Elliott Management Corp. So Chung had to put something on the table to appease investors. After all, he did promise increased engagement months ago, after moving closer to succeeding his father. The stock has plummeted almost 20 per cent since April, when the activist investment fund started rattling at its door. It rose as much as 4.2 per cent

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First Published: Feb 27 2019 | 2:17 PM IST

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