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Christine Tierney / The Detroit News
Hyundai Motor Co. has promoted John Krafcik, one of the longest-serving U.S. executives at the South Korean automaker and one of the industry's leading manufacturing experts, to acting president and chief executive officer of Hyundai Motor America.
He steps in for former Hyundai Motor America President and CEO Jong Eun Kim, who returned to the headquarters in Seoul after slightly less than a year on the job.
Krafcik, who joined Hyundai slightly more than four years ago, takes the helm at a challenging time for the U.S. subsidiary based in Fountain Valley, Calif. It has been through a long stretch of turmoil at the top ranks.
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Krafcik was most recently vice president of product development and strategic planning. He will be responsible for implementing the strategic direction and managing the U.S. subsidiary's operations, Hyundai said.
"I am honored by the confidence Hyundai Motor Co. has shown in me and very excited to help improve Hyundai's position in the U.S. market and help Hyundai dealers with a strong strategic vision for the marketing and sales of our vehicles," Krafcik was quoted as saying in the statement.
"While this is a very difficult time in the auto industry Hyundai's extraordinary products and exceptional value offer us great opportunities now and in the future."
Hyundai traditionally appoints top managers in an acting capacity before making the positions permanent. The automaker is searching for someone to fill Krafcik's previous position.
Hyundai, South Korea's largest automaker, started out in the United States offering affordable small cars. But it is trying to move upmarket and recently launched its first luxury sedan for American consumers, the Hyundai Genesis.
So far this year, Hyundai is outperforming the U.S. market, with sales down 7.8 percent, compared with an overall 14.6 percent decline. Its market share has edged up to 3.1 percent from 2.9 percent.
Hyundai Motor Co. has promoted John Krafcik, one of the longest-serving U.S. executives at the South Korean automaker and one of the industry's leading manufacturing experts, to acting president and chief executive officer of Hyundai Motor America.
He steps in for former Hyundai Motor America President and CEO Jong Eun Kim, who returned to the headquarters in Seoul after slightly less than a year on the job.
Krafcik, who joined Hyundai slightly more than four years ago, takes the helm at a challenging time for the U.S. subsidiary based in Fountain Valley, Calif. It has been through a long stretch of turmoil at the top ranks.
Advertisement
Krafcik was most recently vice president of product development and strategic planning. He will be responsible for implementing the strategic direction and managing the U.S. subsidiary's operations, Hyundai said.
"I am honored by the confidence Hyundai Motor Co. has shown in me and very excited to help improve Hyundai's position in the U.S. market and help Hyundai dealers with a strong strategic vision for the marketing and sales of our vehicles," Krafcik was quoted as saying in the statement.
"While this is a very difficult time in the auto industry Hyundai's extraordinary products and exceptional value offer us great opportunities now and in the future."
Hyundai traditionally appoints top managers in an acting capacity before making the positions permanent. The automaker is searching for someone to fill Krafcik's previous position.
Hyundai, South Korea's largest automaker, started out in the United States offering affordable small cars. But it is trying to move upmarket and recently launched its first luxury sedan for American consumers, the Hyundai Genesis.
So far this year, Hyundai is outperforming the U.S. market, with sales down 7.8 percent, compared with an overall 14.6 percent decline. Its market share has edged up to 3.1 percent from 2.9 percent.
