April 19, 2024

• 

[THE INVESTOR]  Hyundai Motor fired its top US executive Dave Zuchowski from his post on Dec. 21. amid the slumping sales in the all-important US market.

Jerry Flannery, general counsel and an executive vice president of the Hyundai Motor America, will assume the interim CEO position immediately, until a successor is chosen, the automaker said. 

Zuchowski, who had been CEO since Jan. 2014, was removed for failing to meet internal sales goal, according to US industry weekly Automotive News.

Hyundai’s US sales this year through November was up 1.3 percent from a year earlier. However, it still falls short of expectations as the market share in the US has remained flat during Zuchowski’s tenure.

The market share has remained at about 4.4 percent over the last three years, down from the 2011 peak of 5.1 percent. It was largely due to relatively low gas prices, which triggered people to buy more SUVs and trucks, moving away from sedans and compact -- that are Hyundai’s forte.

Zuchowski’s departure comes only a month after he vowed to revamp Hyundai’s SUV lineup in the US to meet the changing market demand at the Los Angeles Auto Show.

A 36-year veteran of the auto industry, he joined Hyundai in 2007 after working at Mazda and Ford in the past.

Flannery, who has been with Hyundai since 1987, will retain his post as chief legal and safety officer, heading all legal matters of the US operations.
“We appreciate Dave’s decade of service to Hyundai, especially his leadership as president and CEO, which has made us a stronger organization.” Flannery said in a statement.

“I look forward to working closely with our dealers, affiliates, senior management and our talented and hardworking employees across the country to realize Hyundai’s full potential.”

By Ahn Sung-mi (sahn@heraldcorp.com)