Hyundai Europe COO Schmid to step down

Hyundai Europe Motor Chief Operating Officer Thomas Schmid, who is credited with boosting the Korean automaker's sales and market share in the region, will step down by year-end after holding the position for nearly five years.

The Austrian executive, 60, will depart to spend more time with his family, Hyundai said in a release.

Schmid’s successor was not announced, Hyundai said, adding that additional organizational announcements would follow.

Schmid, who has more than 30 years of automotive experience, started his career at Steyr Automobiles in Austria as a marketing manager, importing Fiat and Lancia vehicles into the country. He also worked at General Motors Austria before joining Hyundai in 2013. He was elevated to COO in March 2015.

During his time with the company, Schmid oversaw “a number of significant milestones, such as substantial sales volume growth and a consolidation of market share in an increasingly challenging industry,” Hyundai said.

The brand's European volume was more than 540,000 units at the end of 2018, up from about 430,000 in 2012, according to figures from industry association ACEA. Through 11 months of 2019 Hyundai's registrations are up 2.4 percent to 518,868 with its market share up to 3.6 percent from 3.5 percent, ACEA numbers show.

Schmid's other achievements include the successful European launch of Hyundai’s first plug-in hybrid car, along with full-electric and fuel cell models and the debut of high-performance cars from Hyundai's N division.

Hyundai President Dong Woo Choi said in a release that Schmid “has helped to drive Hyundai to a stronger position in Europe, in terms of sales results and operational enhancements, and we are very grateful for his substantial contribution.”