LOS ANGELES -- Citing differences with Korean management over the company's direction, the CEO of Hyundai Motor Finance Co., Bill Thaxton, quit last week.
He is the fourth senior executive to leave Hyundai's U.S. operations in the past year. Thaxton, 55, will be replaced by Mike Buckingham, previously vice president of operations.
Thaxton came to Hyundai five years ago from WFS Financial.
He helped repair a captive finance company wracked by loan delinquencies and dealer unrest.
"I thought we were ready to branch out, probably picking up Kia's financing and aggressively pursue floorplanning, real estate loans and capital loans," Thaxton said late last week. "There was a little more conservative approach on the part of ownership. We had a different vision."