On February 27, 2019, Hyundai Motor Group announced that it has revealed further measures it will take as part of its restructuring plan, resisting renewed pressure from Elliott Management Corp. to shake up the conglomerate and pay out 7 trillion South Korean won in 2018 dividends. Further, the Company added that its board has planned to return up to 2.6 trillion won to shareholders spread over the next 3 years, made up of 1.1 trillion won in dividends, 1 trillion won in share buybacks and 500 billion won in treasury share cancellations. In addition, the Company stated that its board intend to increase its number of directors from 9 to 11, comprising 6 independent and 5 internal members. Further, the Company added that the board proposed to name Albert Biermann as a new internal board member, also nominated Chi-Won Yoon, Eugene Ohr, and Sang-Seung Yi, as independent directors.