After less than half a year at the helm of Hyundai Motor Corp., the North American CEO is stepping down and a replacement is set to take over the job.
Hyundai named John Krafcik, Hyundai North America’s vice president of product development and strategic planning, as acting chief executive to succeed Jong-eun Kim, who had served the position since December 2007. This move is said to be a part of the overall mood at Hyundai, as the company is shaking up different portions of its organizational structure in order to come up with a combination of staff that works best.
Kim was the third CEO to be replaced in two years. He will return to the company’s South Korean headquarters. There are no signs as to what led to his departure or as to what position he will hold at HQ in South Korea.
Hyundai has not been immune to the economic struggles in North America and has fallen short of sales targets, as have most other companies in the world. With this in mind, many are predicting more short-term moves on behalf of the company as they struggle to cope in the changing markets. Criticism has been directed towards Hyundai for its rapid staff changes, as many feel the company is lacking internal patience.
Nevertheless, you can still drop by your local Doylestown Hyundai dealer and get a great deal, no matter who the CEO is.