Top Hyundai exec in U.S. resigns
Steve Wilhite, COO of Hyundai Motor America, expected the carmaker to sell more than 555,000 vehicles in American in 2007. It's unlikely that's going to happen -- the number now is 510,000 -- and it's thought missing this goal is why Wilhite announced his resignation today.
Wilhite arrived at Hyundai just last year, moving from Nissan where he was SVP of marketing. Hyundai is just coming off a record breaking August, but it's still down by about 700 units from last year's sales through the first eight months. Altogether in 2006, it sold 455,520 cars. Hyundai's national dealer and sales meeting is happening this week, which makes the timing of Wilhite's resignation all the more serious. Theories about a personality clash between Wilhite and his South Korean bosses was also behind the departure.
It is also speculated that Wilhite will move to Ford to fill the role of chief marketing officer. If he did take that position -- at the company where he started his career -- he would replace Francisco Codina, who just retired as Ford's North American Marketing Sales and Service head. Ford head Alan Mulally has been under pressure to fill the CMO role as soon as possible.
[Source: Auto News, sub req'd]
Reader Comments (Page 1 of 1)
Will 6:57PM (9/24/2007)
The question of the day is:
How soon until he ends up at Chrysler?
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Vivek 7:39PM (9/24/2007)
The over/under should be 10 weeks and i will take the under.
i hate trolls 2:59AM (9/25/2007)
My thoughts exactly.
jw 7:50PM (9/24/2007)
IF HE CAN'T SELL HYUNDAIS THEN HOW IS HE GOING TO SELL FORDS??? MERRY-GO-ROUND!!! THIS INDUSTRY IS A JOKE!!!
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Gardiner Westbound 9:11PM (9/24/2007)
Hyundai is getting a reputation as a very tough place to work. If many more top execs leave early it will have a tough time recruiting quality replacements and will have to pay a premium for second and third stringers. No one with anything on the ball will risk career and reputation to work in a meat grinder.
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SPG 10:20PM (9/24/2007)
At least he does not have to drive an Azera now.
He can drive a Jag for a few months.
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srapps55 10:50PM (9/24/2007)
Steve will be just fine. He is a genius - just ask him, he'll tell you. Living proof that you don't actually have to have any talent to be an executive - just talk a lot and take credit for other people's work (remember Driver's Wanted - you think Steve did that??)
Matt 12:19AM (9/25/2007)
Hyundai's sales goal is 555,000 in 07, and they've sold 510,000 so far... that's 45,000 cars in THREE MONTHES? How can they NOT acheive that goal?
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Bill 9:14AM (9/25/2007)
I Believe its Fiscal Year 07' which ends for many automakers in September.
h8rain 9:14AM (9/25/2007)
I think they mean the goal is lowered to 510,000. That is not how many they have sold.
Matt 2:31PM (9/25/2007)
Ah, if it's FY that would make sense... didn't consider that, haha.
Golferal 10:28AM (9/25/2007)
Maybe if he finds another job making more money he'll be able to afford a decent suit and tie. Or a personal stylist. Sheesh!
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Tio 1:31PM (9/25/2007)
Hyundai most likely said, resign or be fired. You pick. I would say the sales numbers were not the real/only reason. IMO.
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Bill 9:16AM (9/25/2007)
Marketing guys are supposed to be the coolest people in almost any company. Just looking at that guys tie and haircut I can tell that he doesn't get it.
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FountValCali 12:47PM (9/25/2007)
I remember throwing that exact jacket out, with that tie in the breast pocket, 3 years ago. My wife took it to the Fountain Valley Salvation Army. I remember it had a permanent wrinkle in the left breast and couldn't do a friggin thing with it. That's the jacket!!! Maybe Hyundai threw him out of Fountain Valley too... jacket, tie and all. I can't believe I bought that tie.
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SocalObserver 5:29PM (9/25/2007)
Hahaha. By the way, Hyundai has to have the most embarassing U.S. corporate headquarters out of any automaker (facilities-wise). Right off the 405 in Fountain Valley in a building that looks like the shooting location for "Office Space"
airport krishna 5:19AM (10/03/2007)
Ford believes that engineers and finance people can do marketing just fine, so why hire a marketer when they 1) let dealers run rough-shod over their marketing; and 2) prove they're vision-less over and over with the lamest communications imaginable... talking to white, suburban, over-weight, republican, male golfers, basically... hey wait, that's Ford headquarters in Dearborn!
So if they believe talking to themselves has been the ticket to success and Mulally has publicly stated he'd like to return to "Have you driven a Ford lately?" who'd want to walk into that mess? Maybe 7-figures helps perk up the walk into that mess but it's a mess none-the-less.
It's a revolving door in Marketing anyway at Ford so if it's a grab the cash for 18-24 months then head outah town, then maybe it makes some sense. If Wilhite's going in to be a change agent, he should call Jim Schroerer before he accepts the challenge of the Great Sans-a-belt culture in Dearborn.
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