Cosmai Out At Hyundai Motor U.S.

Robert Cosmai is out as president and CEO of Hyundai Motor America. HMA has named O.S. (Owen) Koh to the top job.

“Bob has done a fine job of leading the company's sales efforts for five years and later serving as its president for the last two years,” says Koh in a statement. “We appreciate his many accomplishments and wish him the best in the future.”

Hyundai says it selected Koh, formerly chief executive coordinator at HMA, “to streamline the decision making process, enhance communication and position the company for future growth.”

Acting Chief Operating Officer Keith Duckworth now will be the highest-ranking American. A search is on for a permanent replacement for Cosmai.

There is no word as to what led to his departure.

At the Detroit auto show, Cosmai appeared optimistic the auto maker would achieve 500,000-plus unit sales this year in the U.S.

“Quality is improving. (We're) entering into some new segments, and having some new products on board will certainly help” reach the goal, Cosmai said.

He admitted last year's 8.7% sales gain fell short of targets, which he blamed on “a tough industry” and internal miscalculations.