Hyundai Motor Company announced it has promoted José Muñoz as its new global chief executive officer (CEO), from the role as global chief operating officer (COO) and CEO of Hyundai and Genesis Motor North America. The appointment is part of a broader management reshuffle aimed at strengthening the group’s leadership structure to help ensure its “sustainable growth in the future mobility business”.
This will mark the first time that the South Korean automaker has appointed a foreign national as its global CEO since the company was founded nearly five decades ago. Beginning in January, Muñoz will succeed Jae Hoon Chang, the current CEO, who has been promoted to vice chairman of Hyundai Motor Group – the automaker’s parent company.
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Before joining Hyundai Motor, José Muñoz – a Spanish national – served as chief performance officer at Nissan Motor Corporation and as chairman of Nissan China.
His promotion is expected to help strengthen Hyundai’s global strategy in light of the re-election of former US President Donald Trump.
Hyundai Motor highlighted José Muñoz’s key achievements within the company by stating: “Through strengthening dealer competitiveness and driving profitability-focused management, he has continuously set record performance milestones for Hyundai Motor in North America.”
As the new vice-chairman of Hyundai Motor Group, Jae Hoon Chang’s key aims will be “to advance value chain innovation in the automotive business, optimize business operations and maximize synergies between parties within the group.”
Other key appointments within Hyundai Motor Group include Sung Kim, promoted to President of Hyundai Motor Company with the aim of enhancing “strategic intelligence capabilities and to address global economic and security challenges”; Jun Young Choi, promoted to President of Kia Corporation; and Kyoo Bok Lee, promoted to President of Hyundai Glovis.
Hyundai Motor Group stated the appointments “reflect its commitment to a performance-based approach that aligns with outstanding achievements. By consolidating the Group’s core competencies and strategically placing proven leaders with verified track records in key positions, the Group aims to strengthen organizational foundations and accelerate our future transformation”.
