Hyundai Motor Group promotes fewer executives after flagship's profit drop

SEOUL (Reuters) - Hyundai Motor Group said on Monday that as part of its annual reshuffle it has promoted 348 executives, down 5 percent from last year, after flagship unit Hyundai Motor posted its fourth consecutive annual profit decline in 2016.

Hyundai Motor Group is South Korea's second-biggest conglomerate after Samsung Group in terms of assets, with 51 subsidiaries, including Hyundai Motor, Kia Motors , Hyundai Mobis and Hyundai Steel .

(Reporting by Hyunjoo Jin; Editing by Muralikumar Anantharaman)