Hyundai Motor America Names John Krafcik Acting President And CEO

FOUNTAIN VALLEY, Calif. - Hyundai Motor America today announced that John Krafcik has been promoted to Acting President and Chief Executive Officer of the company. Krafcik will be responsible for implementation of strategic direction and management of the company’s operations.

Krafcik most recently served as Vice President of Product Development and Strategic Planning for Hyundai. Krafcik joined Hyundai in April, 2004. Prior to holding that position he had worked at Ford Motor Company.

“I am honored by the confidence Hyundai Motor Company 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. 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.”

The company has begun the search to fill Krafcik’s prior position.

Jong Eun Kim who has served as President and Chief Executive Officer of Hyundai Motor America has returned to Hyundai Motor Company headquarters in Korea.

Hyundai Motor America, headquartered in Fountain Valley, Calif., is a subsidiary of Hyundai Motor Company of Korea. Hyundai vehicles are distributed throughout the United States by Hyundai Motor America and are sold and serviced by more than 790 Hyundai dealerships nationwide.

(Nov. 24, 2008)