Renault Samsung appoints new CEO

New Renault Samsung CEO Dominique Signora / Courtesy of Renault Samsung

By Jhoo Dong-chan

Renault Samsung has appointed Dominique Signora as its new CEO as of Nov. 1, the carmaker said Wednesday.

Born in 1967, Signora received his MBA from ESSEC Business School in France in 1990, and joined Renault Group the following year. He then served in various positions in the group, including RCI Korea CEO, Nissan Sales Finance general manager, RCI Brazil CEO and RCI Bank and Services vice president.

Renault Samsung said he has had an excellent track record for four years since he served as CEO of RCI Korea in 2006. Signora then proved his ability at taking on challenges in new environments of various countries and regions including Europe, Thailand, Mexico, Brazil and Japan.

In his inauguration speech, Signora praised Renault Samsung employees for setting their goals high and continuously making efforts to achieve them despite various unfavorable market challenges. Its goals are to become No. 1 in quality, No. 3 in domestic sales and the best carmaker in the Renault-Nissan Alliance.

He also asked them to continue striving together with him to realize these goals.

Signora faces challenges in the rapidly changing auto market as well as achieving the carmaker’s target of “sustainable, profitable growth.”

Under the group’s mid-term strategy slogan of “Drive the Future,” Signora also said it will continuously introduce innovative products, including connected and autonomous cars, for the next six years.

He added the Korean people’s diligence and potential will be one of Renault Samsung’s great assets, and called for the carmaker’s employees to help make it a sustainable company.

Renault Samsung sold a total of 75,172 cars in Korea in the January-to-September period this year, up 5.6 percent from a year ago.

Despite its growth in sales, Renault Samsung was outnumbered in sales competition by its domestic rivals GM Korea and Ssangyong Motor, which sold 102,504 and 79,847 cars, respectively.

Moreover, the carmaker sold only 7,363 cars last month, down 20.2 percent from a year ago.

“Signora’s leadership will be tested not only in its sales performance but also in his ability to negotiate with the government,” an industry observer said.

“Renault Samsung showcased the carmaker group’s most popular Cleo hatchback during this year’s Seoul International Motor Show, but failed to sell the model here. And nearly two years has passed since it introduced the popular SM6 sedan. Renault Samsung needs a new car.”