News & Analysis
Fifty Hynix executives resign, says report
2/27/2003 8:54 AM EST
SEOUL, South Korea -- About 50 company executives at troubled DRAM maker Hynix Semiconductor Inc. have resigned, according to a Dow Jones Business News report.
"As part of measures to maintain the company's competitiveness, the executives earlier this week elected to resign," a spokesman is quoted as saying.
If true, the announcement of the mass resignation comes one day after Hynix co-president and chief executive Park Sang Ho was reported to have resigned citing personal reasons (see February 26 story).
Hynix has been run by Park and Woo Eui-jei since their predecessor, Park Chong-sup, resigned after the Hynix board of the time rejected a $3.4-billion sale of the company to rival DRAM company Micron Technology Inc. in April 2002
On Tuesday (February 25, 2003), Hynix shareholders approved a write-down of the company's capital.
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