FILE PHOTO: The Hyundai logo is seen during the first press day of the Paris auto show, in Paris, France, Oct. 2, 2018. REUTERS/Regis Duvignau

SEOUL (Reuters) - Hyundai Motor shareholders voted on Friday against Elliott Management’s proposals for dividend payouts.

Elliott Management had called for a hefty special dividend and a board shake-up at Hyundai Motor Group, South Korea’s No.2 family-run conglomerate, to address its “poor governance” and “excess cash”.