Hyundai Europe has announced that its president and CEO, Michael Cole, will retire at the end of this year.
Cole joined the Hyundai Motor Group in 2009 when he left Toyota GB to become the managing director of Kia UK. He has remained with the group since then, having been named head of Hyundai Europe in July 2020.
He has overseen the successful launch of several notable models amid the brand’s push upmarket, including the Ioniq 5 and the current-generation Tucson, with the latter a regular fixture in the region’s best-seller lists.
Cole started in the motor industry four decades ago, working within Ford’s UK dealer network. He said: “After more than 40 years in the automotive industry, it is now time to return to the UK to be with my family and to enjoy life beyond work.
“I have been incredibly fortunate to enjoy a career in such a dynamic industry and over the last 15 years to work at Hyundai Motor Group, the best and most progressive automotive organisation in the world.
“I am proud to have worked with a great team in Europe, who l know will ensure that Hyundai continues its exciting growth trajectory.”
He will be replaced by Xavier Martinet, the current chief marketing officer for Dacia.
Martinet started his career with the Renault Group in 1997 and became Dacia’s marketing boss in 2019. He has since presided over the transformation of the brand’s identity and marketing positioning, culminating in the recent launch of the Bigster – the brand's largest and most expensive car to date.
“I am honoured to have the opportunity to lead the great teams at Hyundai Motor Europe and will strive to further enhance sustainable growth, delivering exceptional customer satisfaction with the support of our dealers and importer partners,” said Martinet.
Jose Munoz, president of the global Hyundai Motor Company, said the company is “grateful to Michael for his outstanding leadership” and “we look forward to welcoming Xavier”.
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