Kia India has appointed Gwanggu Lee as the new Managing Director and CEO, effective immediately. He will be the third Managing Director and CEO of Kia India, succeeding Kook Hyun Shim and Tae Jin Park.
Kia India’s former MD & CEO - Tae Jin Park, is retiring after a remarkable 36-year journey with Kia Corporation and a 4 year stint with Kia India.
Lee has over 30 years of experience in the automotive sector and has held leadership positions in various capacities in both developed and developing economies, including roles in the US, Canada, Italy, Mexico, Kia Headquarters in Central and South America, and Kia Europe Headquarters in Germany.
His recent role as President at Kia Mexico played a pivotal role in the company's substantial growth and establishment as a production and export hub.
Gwanggu Lee, MD, and CEO – Kia India, said, “With two segment-breaking updates – the new Seltos and the new Sonet and a host of more innovative products on the way, Kia India is surely on the right path to sustainable business growth."
"My vision is to unlock the next phase of growth through inspiring Kia brand experiences thereby creating more value and long-lasting impact for our customers, partners, and employees alike," he added.
Kia India posted a turnover of $4.6 billion, with profits breaching the $250 million mark for FY2023.
Kia India has seen its profits grow over 150% in FY2023 to Rs 2,122 crore versus Rs 825 crore profits registered in FY2022. Meanwhile, turnover rose 53% year on year to Rs 38,783 crore versus Rs 25,300 crore in FY2022.
Kia, which ranks among the top three SUV makers in the country over the past few years and the fifth UV maker in FY2023, overtook longstanding MPV champion Toyota Innova. The Carens sold 70,314 units to the Innova’s 55,574 units.
With its performance in FY2023, Kia India has become the fastest automaker to breach the Rs 30,000 crore turnover mark and Rs 2,000 crore in profits in about five years’ time.