Hyundai Motor Europe CEO Michael Cole Steps Down Amid Sales Challenges

Hyundai Motor Group has announced that the Chief Executive Officer (CEO) of Hyundai Motor Europe, Michael Cole, will be stepping down from the post at the end of the year, effective December 31. This resignation comes as the company navigates a tough period in the European market, where it has been grappling with declining sales.

Michael Cole has served as CEO since July 2020. He has a career spanning 15 years; he has held key roles, including President of Kia Motors America, Chief Operating Officer of Kia Motors Europe, and MD of Kia Motors UK.

Hyundai has faced mounting difficulties in Europe, particularly with a decline in eco-friendly vehicle sales and a slowdown in internal combustion engine demand amid economic challenges.

To tackle these problems of declining sales and reinvigorate its European operations, the company has appointed Xavier Martinet as the new Chief of Hyundai Motor Europe. Martinet, a seasoned expert in sales and marketing who recently served as Vice President of the Dacia brand under Renault Group, will begin his new role on January 1, 2025, at Hyundai Motor Europe’s headquarters in Offenbach, Germany.

a

Magazine made for you.

Featured:

No posts were found for provided query parameters.

Elsewhere: