CEO of Boston Dynamics to step down, as Hyundai's robot strategy in focus
By Heejin Kim and Jihoon Lee
SEOUL, Feb 11 (Reuters) - Robert Playter, chief executive of Hyundai Motor Group's robot affiliate Boston Dynamics is stepping down, the Waltham, Massachusetts-based company said on its X account.
Shares of Hyundai Motor 005380.KS rallied 5.9% in Seoul trading on Wednesday as the leadership change spurred market expectation that the automaker intends to accelerate commercialisation of its robot business.
"The stock appeared to have risen because of the news about the resignation of the CEO," said James Hong, Seoul-based analyst at Macquarie, adding that Playter's team had been "R&D-oriented" for robot development.
A media report that Boston Dynamics' robot dogs have been deployed to work at a nuclear power plant in Britain also contributed to the stock's gains, a note from Seoul-based Daishin Securities said.
Hyundai Motor Group, which controls Hyundai and Kia, acquired Boston Dynamics in 2021 with a majority stake.
In January, Hyundai said it plans to deploy humanoid robots made by Boston Dynamics at its U.S. manufacturing plant in Georgia.
Kia's shares gained 4.6%.
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