Hyundai Motor Europe (HME) on Tuesday 5 November announced the appointment of Xavier Martinet as its new President and CEO in a . Martinet will take up his new position at HME’s headquarters in Offenbach, Germany on 1 January 2025. He succeeds Michael Cole, who will step down on 31 December 2024 after 15 years with the Hyundai Motor Group. Cole has been president and CEO since July 2020.

Martinet has more than 27 years of experience in the automotive industry and has worked for organisations in Europe and the United States. He started at Renault as sales and marketing assistant in 1997 and has held a number of positions of increasing responsibility, including sales director of Renault Retail Group, managing director of Renault Italia and senior vice president and marketing director of Dacia. Prior to his appointment at HME, he held the positions of senior vice president, commercial services & senior vice president, marketing sales & operations for the Dacia brand.

“I am excited to join Hyundai Motor, an automotive industry leader in technology and innovation. 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,” Martinet commented upon the announcement of his appointment.

Reflecting on his time with Hyundai Motor Group, Cole 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.”

This article was originally published in .