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Automotive News reported today that Hyundai Motor
America CEO Bob Cosmai (pictured) is no longer with the company. No reasons were given for his departure, and he has
been replaced by Korean executive Owen Koh, who joined the company in 2005 as “chief executive
coordinator.”
In 2005, Hyundai subsidiary Kia Motors also replaced its CEO with a Korean executive.
From here, it looks like Hyundai wanted to improve communications with corporate headquarters in Korea, and
perhaps to tighten corporate control of North American operations.
Cosmai has been CEO since 2003. He joined
Hyundai in 1998 as Vice President of Sales. Since Cosmai joined the company, annual sales have rocketed from 90,000
units to a forecast 500,000 units in 2006.