Hyundai Australia has appointed Don Ramano as their new CEO, becoming the first local head of the Korean carmaker to not hail from the brand’s home nation.
Romano will be the successor to current CEO Todd Lee who will remain in Australia in an executive support role as chief executive coordinator.
In his new role, Romano will be overseeing both the Hyundai and Genesis brands.
“It is an honour to join Hyundai and Genesis in Australia and the broader Asia Pacific region,” Romano said in a media release.
“With 74 competitor brands - expected to rise to 80 within the next 12 months - Australia is one of the most challenging automotive markets on earth.
“I look forward to working with the HMCA team to promote our world-beating products and to exceed customer expectations at every touchpoint.”
While he is new to the Australian operation, Romano was already part of the country, acting as the president and CEO of Hyundai Canada for 10 years.
Under Romano’s lead Hyundai Canada was successful with achieving accomplishments. These included a growth in share growth from 7.3% to 8.2% and an all time annual sales record of 138,755 in 2024, making Hyundai Canada the second-largest import company in Canada over the past three years.
The new appointment comes as Hyundai Australia slides down in the rankings of top auto brands locally.
In 2021, Hyundai was the third top car brand in Australia but in the following years was pushed to sixth spot in 2024.
Hyundai Australia’s share of the Australian market also slipped from 9.0% to 5.9% in the decade between 2014 and 2024.
The Australian automotive industry is set to become even more competitive with at least half a dozen new brands set to launch locally this year.
Prior to working with Hyundai, Romano worked with Nissan USA and Mazda, where he oversaw the companies now-iconic ‘Zoom-Zoom’ ad campaign.
At the time of writing, Hyundai Motor Co (KRX: 005380) stocks were trading at KRW195,600, down 0.91% from the previous close of KRW197,400. The companies market cap is KRW50.39 trillion.
