Filed under: Hirings/Firings/Layoffs, Hyundai
Krafcik named CEO of Hyundai America
Hyundai is once again shuffling the deck at its U.S. operation. Since 2003, four different backsides have sat in the CEO seat. Finbarr O'Neill, Bob Cosmai, Steve Wilhite, and Jon Eun Kim were not able to gain enough ground towards the brand's goal of selling 1 million units by 2010, so now it's time for John Krafcik to try his hand. Krafcik will move up from his VP of Product Development and Strategic Planning position where he helped shape Hyundai's most recent successes. He played a role ensuring the Genesis and Santa Fe would resonate with the American market, and his reward is the new title of acting President and CEO of the U.S. unit for Hyundai. In the past, individuals named as "acting" executives had the probationary title removed within just a few months. While Hyundai no longer thinks it will shift 1 million cars by 2010, Krafcik will try to keep the dealer body pleased with stable upper management and continuing to release world-class product at more reasonable prices than the competition.
[Source: Automotive News ,sub req'd]
Reader Comments (Page 1 of 1)
RSR 8:28AM (11/26/2008)
I don't know about the predecessors' performance in detail, but I think there is a problem with their command center back home if it keeps changing its NA leadership like that. It also should share blame that it can't pick good people from the start, if the leaders were truly inadequate.
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Jared 8:56AM (11/26/2008)
Best of luck to Mr. Krafcik at his new employer, whoever that will be in a years time, because he certainly won't be at Hyundai for long.
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hyundaifans.com 8:57AM (11/26/2008)
Yeah, 5 CEOs in 5 years is a little ridiculous.
Gstill 9:12AM (11/26/2008)
I don't know. Hyundai seems to be improving each year, considering the economy. It's just kind of amazing how much they change up the management, and the Big 3 continue to ride it out with many of the same people.
If Hyundai had hired Bob Nardelli, they wouldn't have kept him for 4 months. Mullally may be improving things at Ford, but I'm convinced Mark Fields only got his job because he has compromising pictures of Bill Ford.
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XJ 10:30AM (11/26/2008)
True...Hyundai doesn't seem like executives who sit on their laurels. Sure, some executive may balk at the current trend of how Hyundai CEOs' been doing and not want to be their, but there's never a shortage of bright, strong leaders who would make a great CEO.
And I certainly hope Krafcik is that one. He's been great at all the auto shows and seems to genuinely enjoy touting Hyundai cars to the masses.
ConceptVBS 12:46PM (11/26/2008)
Hyundai picked the right guy for the job. He has a proven track record of building models that people here in America WANT. Congrats on your promotion John!
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DriveOne 12:11PM (11/27/2008)
I figured it was just a matter of time before JFK rose to the top over there - he has the right stuff. Good Luck John.
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