Renault Samsung CEO to step down

Seoul January 30, 2006; The Korea Herald reported that Renault Samsung Motors Co.'s chief executive officer Jerome Stoll will step down in February, the company said yesterday.

Stoll took office on Sept. 1, 2000 when Renault Samsung Motors was launched. He is said to have successfully led the company for the past five years and six months.

Renault Samsung sold 129,035 vehicles last year, which is astounding growth compared to 2001 when it sold a mere 70,788 units.

"The parent company in France gives credit to Stoll for his achievement in Korea. There are no special reasons for his resignation, and we don't have information on who will be named to replace him," a Samsung Renault official said.