Hyundai CEO John Krafcik’s Style
With a wife, two children, a love of running, a fascination with sports cars and now CEO of Hyundai, John Krafcik could pass himself off as an ordinary guy if he so desired. But the 48 year old CEO is anything but ordinary, and success would be an understatement.
What’s Up with Hyundai
In 2007 Hyundai was number nine in U.S. sales and had a bad reputation for reliability, ya that was 3 years ago.
Two years later Hyundai quietly sneaks up to #7.
Hyundai tops Nissan, snatching Kelley Blue Book’s list of top five brands.
Now they’re on the radar, but who cares it’s just Hyundai right?
Who Buys A Hyundai?
So A 2011 Hyundai Equus at $60,000 Gets You More Than Mercedes-Benz S550 at $104,000 – Really?
Looks like the luxury car buyer who’s wanting to stash a bit more into retirement just may have an answer, if it’s for real. That’s quite an ambitious goal, but if anyone can pull it off it’d be Krafcik.
Where did they find John Krafcik
John Krafcik grew up in a working class family in Conneticut, graduated from Stanford University with a degree in mechanical engineering and promptly went to work first selling hot water heaters before taking a job with Xerox.
His first automotive job was as a manufacturing engineer for a joint project Toyota and General Motors had put together building small cars.
After getting his master’s degree from MIT (Massachusetts Institute of Technology) Krafcik landed a job with James Womack, a man well-known in auto plant productivity. This job gave him the chance to compare the productivity of auto plants around the world and also honed his skills in diplomacy when dealing with plant managers.
Krafcik’s next stop on the career ladder was job at Ford Motor Co., in Dearborn, Michican where he worked in an in-house think tank before moving on to product development. Even though none of his designs were ever used, he remained focused on his goal, which was to run a vehicle-development program. He finally got his chance, being put in charge of the next generation of Ford Expeditions and Lincoln Navigators.
In 2004 Krafcik was hired as a Hyundai vice-president to oversee a product planning job and, in 2008, he became CEO.
A key award in 2006 could have been an early indication of this new path Krafcik had put them on:
HYUNDAI AZERA WINS FORBES.COM AWARD FOR ‘BEST LUXURIOUS CAR FOR A NONLUXURY PRICE
06/01/2006 Forbes.com has named the Hyundai Azera ‘Best Luxurious Car for a Nonluxury Price’ in the 2006 “Best Cars for the Bucks” list. Forbes.com editors praised the Azera’s powerful engine, styling, interior volume and other standard upscale amenities, offered at a sticker price well below other premium brands.
“Azera is our flagship – with segment-leading standard safety technologies like Electronic Stability Control and eight airbags, a clean, fuel-efficient, powerful 3.8L V6 engine, and a bigger passenger cabin than the BMW 760i,” said John Krafcik, vice president of product development and strategic planning, Hyundai Motor America. “This recognition from Forbes.com, along with AutoPacific recently awarding Azera the Vehicle Satisfaction Award for a large car, demonstrates we’re succeeding in raising the bar for value for customers in all vehicle segments.”
Starting at under $25,000, the Azera offers the most standard safety technologies in its class, including eight airbags and Electronic Stability Control (ESC) with Traction Control System. The vehicle features a powerful 263-horsepower, 3.8-liter DOHC V6 engine, and other luxurious appointments such as dual-zone climate control, leather interior and a six-speaker AM/FM/CD audio system with MP3 capabilities. Azera buyers also receive 24-hour roadside assistance coverage at no extra charge for five years
Could Hyundai Be Cloning Krafick
After being hired as a VP for Hyundai, Krafick developed what has come to be known as the “24/7 Campaign”. Essentially this campaign introduced seven new (or redesigned) models into the U.S. automotive market in a twenty-four month period. This campaign was so successful that as the CEO of Hyundai, Krafick is once again introducing the 24/7 cycle in the hopes of boosting sales even further.
In 2009, Krafick introduced the Hyundai Assurance job-loss protection program. Part of a trend of consumer protection problems inspired by the recession, Assurance arranges that if a customer purchases a car and then looses their job, the company will take the car back. A price-lock program on the price of gasoline for Hyundai owners was also a popular part of Hyundai’s package of recession programs.
In addition to his responsibilities as CEO of the company –
Krafick takes a personal interest in the day-to-day concerns of the customers and attempts to personally deal personally with one customer complaint a day, a habit that has other CEO’s raising their eyebrows, but which merits applause from everyday Hyundai customers and smiles of appreciation from the Korean parent company as the revenues continue to rise.
Indeed, with a man like John Krafick and all the experience he brings from product development, creating high quality that can compete with luxury brands for much less, there’s going to be more good things coming for Hyundai if they can keep up this streak.
{ 1 trackback }
{ 0 comments… add one now }