Hyundai Motor America
For the past four and a half years, Hyundai's marketing efforts in America have been steered by Steve Shannon. But now the Korean automaker is going to have to find a new marketing guru, because Shannon has reportedly stepped down with apparently immediate effect.
Hyundai Motor America has announced that its affable president and CEO, John Krafcik, will be stepping down from his post on January 1, at the completion of his contract. He'll be replaced by the current executive vice president of sales, David Zuchowski.
Hyundai swung with the Genesis and connected big time. But even though the Korean automaker wants to take its public perception upward, that doesn't mean it plans to keep releasing big, luxury sedans. For the six new and redesigned models that will appear by 2011, Hyundai America's product development chief says "We're looking at small, fuel-efficient cars." The company will also be giving buyers the option of putting smaller engines in some of their vehicles.