17 October 2005

Immediate release

Growth at Hyundai sparks executive changes

Huge growth and acceptance as a mainstream New Zealand brand has led to changes at the top for Hyundai.

Former General Manager Philip Eustace has been named Managing Director while former Sales and Marketing Manager Howard Spencer moves up to become General Manager Operations, at Hyundai Automotive New Zealand.

Fuelled by the success of world-class vehicles like Getz and Tucson, Hyundai's sales grew a massive 72 percent last year. And with updated models like the widely-acclaimed Sonata joining the mix in 2005, the brand continues to go from strength to strength.

Part of the Giltrap Group, Hyundai is the only mainstream brand wholly New Zealand owned and operated.

"With the ongoing growth of Hyundai comes the need to develop and strengthen our management team," said Richard Giltrap, Executive Director of the company.

"From today, 17th October, Philip Eustace becomes Managing Director with direct responsibility for corporate and external relationships, the key supplier relationship with Hyundai in South Korea, and also strategy and business planning.

"Philip has been with the company for 15 years and has an excellent relationship with senior Hyundai management in Korea; with increased focus on strategic and planning issues his wide experience will play a key role in the future growth of the brand in New Zealand.

"Howard Spencer becomes General Manager Operations with responsibility for all operational areas including marketing, sales, parts, service, finance and IT, as well as looking after customer relationships including our dealers.

"Howard, whose zest and drive have been a big part of the renaissance of the brand in New Zealand, will lead the management team to develop innovative customer-focused programmes.

"Meanwhile Philip, Howard and I will form a senior executive group to oversee the future development and operations of the company," added Mr Giltrap. "I remain fully involved with HANZ; and, with Philip and Howard, I will be involved with all key decisions concerning the business and future strategy.

"These changes will be followed by further developments within the executive team.

"We know Hyundai is a brand with a big future in New Zealand and we look forward to continued strong growth as we deliver excellent, high-quality vehicles to Kiwi drivers."

End