Hyundai Motor Appoints Xavier Martinet, Renault Vice President, as CEO of European Subsidiary

Hyundai Motor Company announced on the 5th (local time) that it has appointed Xavier Martinet, Vice President of Renault, as the CEO of its European subsidiary.

Martinet, the new CEO, will assume the position of President and CEO of the European subsidiary starting January next year, while Michael Cole, who has worked at Hyundai for 15 years, will resign as CEO on December 31 of this year.

Martinet is an industry expert with over 27 years of experience in the automotive sector. He began his career in sales and marketing at Renault in 1997, and has held positions such as Sales Manager of Renault Retail Group, Managing Director of Renault Italy, and Senior Vice President and Chief Marketing Officer of Dacia, a brand under Renault. CEO Martinet stated, "I am pleased to join Hyundai, a leader in the automotive industry in technology and innovation," and added, "With the support of dealers and partners, I will do my best to achieve sustainable growth and customer satisfaction."

Jose Munoz, Hyundai Motor's Global Chief Operating Officer (COO), also said, "We are pleased to have someone with proven experience and leadership in the European market join the Hyundai team," and welcomed the new CEO Martinet.

Xavier Martinet, New CEO of Hyundai Motor Europe. Renault Homepage

Meanwhile, Michael Cole, who has led Hyundai's European subsidiary for the past 15 years, will leave Hyundai at the end of this year. He has served as President of Kia's U.S. subsidiary and Chief Operating Officer of Kia's European subsidiary. Hyundai stated that CEO Cole contributed to the company's expansion into Europe and its transition to a mobility solutions provider. COO Munoz added, "Michael Cole made significant contributions over 15 years, leading Hyundai's growth across Europe," and expressed gratitude for his outstanding leadership.