Hyundai Motor America Names New Vice President

John Krafcik Named Vice President, Strategic Planning and Product Planning

FOUNTAIN VALLEY, Calif., April 14 -- Hyundai Motor America President and CEO Robert F. Cosmai announced today the appointment of John Krafcik as Vice President, Strategic Planning and Product Planning. In this position Krafcik will be responsible for all product planning, strategic planning, brand planning, research and pricing for Hyundai in the U.S.

Krafcik comes to Hyundai from Ford Motor Company where he worked for the past 14 years and most recently held positions as Chief Engineer, Truck Chassis Engineering and Chief Engineer, Large/Premium Utility Vehicles.

"With his expertise in product development, business strategy, and product planning, John Krafcik will be a key member of the management team at HMA," said Cosmai. "Hyundai Motor America is taking a larger role in product planning and development for the U.S. market and John's experience and engineering background will help us improve on our success in the American marketplace," he added.

Krafcik holds a Bachelor of Science degree in Mechanical Engineering from Stanford University and a Master of Science degree in Management from the MIT Sloan School of Management. Before joining Ford Motor Company, Krafcik was the first American engineer hired by the GM/Toyota joint-venture partnership NUMMI, and later became an industry expert on lean production while at MIT. He formed his own management consulting business, and was a major contributor to "The Machine That Changed the World."

While at Ford, Krafcik held several key product development and planning positions on SUVs, trucks, and commercial vehicles. From 1998 through 2002 he served as Chief Engineer for Large/Premium Vehicles, which included the Ford Expedition and Lincoln Navigator. Most recently, he was in charge of Ford's light truck chassis systems and helped launch the Ford F-150 pickup truck.

"Hyundai's strategic direction and growing product pipeline are impressive," Krafcik said. "There is a nice harmony between Hyundai's strategy and my own business philosophy, summed up with this equation: 'Value + Innovation = Growth.' I am looking forward to working with the global Hyundai team to optimize our product portfolio, build on our growing brand strength and achieve our customer satisfaction and corporate growth targets," he said.

Hyundai Motor America, headquartered in Fountain Valley, Calif., is a subsidiary of Hyundai Motor Company of Korea. Hyundai cars and sport utility vehicles are distributed in the U.S. by Hyundai Motor America and are sold and serviced by more than 625 dealers throughout the nation.