April 26, 2024

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[THE INVESTOR] Hyundai Motor America has tapped Brian Smith, a Toyota and Lexus veteran, as its new chief operating officer, filling up the vacant post after a decade in the all-important US market.

Smith will oversee all areas of Hyundai’s US operations, including its corporate and product strategic direction, sales, marketing, customers satisfaction and dealer development starting Oct. 25, according to the carmaker. He will report to Hyundai Motor America President and CEO Kenny Lee, who was hired in Sept. 

Brian Smith

“Brian Smith’s long track record of success in empowering organizations, driving changes in future retailing and exceeding expectations makes him the right person to help lead Hyundai and prepare us for the continued evolution of the auto industry,” said Lee in a statement.

The auto industry veteran, after serving various leadership position with Toyota for 35 years, retired as vice president of retail transformation at the Japanese carmaker in September. Before that, he served as vice president of marketing at Toyota’s luxury marque Lexus.

“I’ve always admired Hyundai’s challenger mindset, its hardworking and dedicated culture, and the speed in which it operates,” Smith said. “There is tremendous opportunity ahead and I’m excited for the challenge and to be joining this dynamic team.”

Smith, together with Lee, faces the daunting task of reviving Hyundai sales in the world’s second largest auto market after China. The Korean carmaker’s US sales in January-September declined 12.9 percent on-year to 511,740 units. The decline is largely attributed to Hyundai’s sedan-focused lineup that has lost appeal in the SUV-loving country.

Hyundai’s US office hasn’t had the COO position for ten years since Steve Wilhite resigned in 2007. For the past decade, the CEO was unilaterally responsible for both communicating with the Seoul headquarters as well as the US operations. Smith’s appointment, who comes with vast experience in dealership and sales network, will help the carmaker to effectively oversee the operations to regain its market share in the US, industry watchers say.

As part of its revival efforts, Hyundai recently announced a new Shopper Assurance program in the US that includes three-day money-back guarantee for customers unhappy with the purchase.

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