Krafcik joins TrueCar board
Krafcik: "I left on great terms with Hyundai. I still call them and they call me."
John Krafcik, former CEO of Hyundai Motor America, has joined the board of directors of TrueCar Inc.
Krafcik, 52, will be a director and a member of the board’s operating committee.
During his five years at the helm of Hyundai Motor Co.’s American arm, Krafcik nearly doubled the company’s U.S. market share -- but Hyundai did not extend his contract and he departed at the end of 2013.
“One of the things that John is going to help us with is to make sure anything that we roll out works for the industry, works for the dealer,” TrueCar CEO Scott Painter told The Wall Street Journal.
“Very few people are credited with elevating an emerging brand to top-tier status within the automotive industry,” Painter said in a statement. “John Krafcik is one of those remarkable leaders who has done just that over the last five years.”
Krafcik said his placement on the board is another step to making the online car-shopping service more dealer friendly.
“I want to help retailers in automotive and other industries build a bridge of trust with consumers, and joining TrueCar lets me get fully immersed in doing just that,” Krafcik said in a statement.
It is unclear how long Krafcik plans to stay with TrueCar, or whether he will work full time there. He has been doing consulting work in the Silicon Valley and in China since departing Hyundai.
“I left on great terms with Hyundai. I still call them and they call me,” Krafcik told The Journal. “It’s helped me understand what I might want to do, full, full time. I am just taking things at the appropriate pace.”
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