Hyundai Motor America has appointed a permanent new CEO after ousting Dave Zuchowski late last year.
Kyung Soo (Kenny) Lee will serve as president and CEO starting today and will take charge of the company’s sales and marketing. Lee has worked for Hyundai globally since 1982, most recently as president and CEO of Hyundai Translead, a manufacturer of dry and refrigerated van trailers, container chassis, and converter dollies.
“Mr. Lee has an in-depth understanding of Hyundai Motor’s global operation, following nearly two decades in diverse markets around the world, including the U.S., Europe and Latin America,” said Won-hee (Wayne) Lee, president and CEO of Hyundai Motor Company, in a statement.
Lee has served in various positions in the U.S. for more than 10 years, Hyundai says. He has worked with Kia for 13 years in different roles, heading up Kia Motors Spain and the Kia Motors Latin America and Caribbean regional head office. He also served as senior vice president of Kia Motors Europe.
Jerry Flannery, who served as interim CEO for several months, returns to his position as executive vice president, chief legal and safety officer for Hyundai Motor America.
Former CEO Zuchowski was reportedly fired last year for failing to meet internal sales objectives. He took the helm as president and CEO in 2014, when Hyundai’s U.S. sales were starting to plateau. Unfortunately, Hyundai never fully took advantage of the hot SUV market, leaving gaps in the subcompact crossover and large crossover categories.
So far this year, sales for the Hyundai brand in the U.S. have fallen. It sold 441,367 vehicles through August, down from 519,581 vehicles in the same time period last year. Kia’s sales declined from 442,544 vehicles to 405,462 vehicles in the first eight months of 2017.
Source: Hyundai
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