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Hyundai Mobis hires ex-Valeo sales expert

The logo of Hyundai Mobis (Hyundai Mobis Co.)
The logo of Hyundai Mobis (Hyundai Mobis Co.)
Hyundai Mobis Co., South Korea's biggest auto parts maker, said Sunday it has hired an ex-Valeo sales expert as it strives to ride out an extended coronavirus pandemic.

Hyundai Mobis appointed Axel J. Maschka as executive vice president in charge of the company's global sales division. He will directly report to Chief Executive Officer Park Chung-kook from Monday, the company said in a statement.

It is the first time for the company to name a non-Korean executive in the significant sales division, it said.

Maschka, a German native, spent 30 years at global carmakers such as Volvo and Mercedes-Benz and suppliers like Bosch and Continental. Previously, he served as a senior vice president at Paris-based auto parts supplier Valeo in charge of its sales division, the statement said.

Hyundai Mobis said he will help the world's seventh-biggest auto parts supplier by sales expand sales in major markets such as the United States, Europe and China amid the virus crisis.

Hyundai Mobis is a key affiliate of Hyundai Motor Group, which has Hyundai Motor Co. and Kia Motors Corp. under its wing. It earns 90 percent of its overall sales from the two carmakers.

From January to September, its net profit declined 43 percent to 974.9 billion won from 1.71 trillion won in the year-ago period.

Hyundai Motor owns a 34 percent stake in Kia Motors, while Kia holds a 17 percent stake in Hyundai Mobis. (Yonhap)