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John Krafcik leaving as US CEO of Hyundai

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He engineered the turnaround that made Hyundai a major brand in the U.S.


Chief Executive Officer John Krafcik, who engineered Hyundai's turnaround from a discount brand to a major contender in the U.S. auto market, is stepping down Tuesday.


Hyundai says he will be replaced as CEO of Hyundai Motor America by David Zuchowski, executive vice president of sales, starting Jan. 1.


Hyundai says Krafcik is leaving because he has completed his contract.


'On behalf of Hyundai Motor Company, we sincerely thank John for his visionary leadership and relentless pursuit of customer satisfaction, which has driven Hyundai's record growth over the past five years,' said Im Tak Uk, executive vice president and chief operating officer of Hyundai Motor Company in a statement.


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