Renault Samsung Motors’ outgoing CEO Jean-Marie Hurtiger said he is satisfied with the accomplishments made during his five years in charge.
He told journalists in Seoul that he sees a positive future for Renault’s largest Asian investment while promising its long-term commitment. His replacement, from the beginning of September, is Francois Provost, currently chief operating officer of Renault Russia.
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Among the achievements, Hurtiger stressed the increase in domestic sales and exports, the top rank in customer satisfaction indices for the ninth straight year, the complete renewal of all models and the transition from the Nissan platform that had caused initial concern.
From 2005 to 2010, domestic sales rose from 115,000 to 155,000, and exports reached about 120,000 from just 3,600.
In addition, he said that he was proud of Renault Samsung’s social record, including greater employment of women, improvements in corporate social responsibility and peaceful wage negotiations without strikes or incident.
Responding to the concerns about the company’s profitability, he explained the fluctuations of foreign exchange rates and the resulting rise in import expenses were by far the greatest contributor.
Hurtiger said all the cost reductions made during his stay were offset by the strengthening Japanese yen and euro, currencies used to pay for auto parts imported from abroad. Most of the production is now done locally.
He described Renault Samsung’s Busan plant as “one of the most efficient factories in the world”, having improved quality and design over the past five years.
