Hyundai Motor Company has made a groundbreaking decision by appointing José Muñoz as its new Chief Executive Officer (CEO), effective January 1, 2025. This historic move marks the first time a foreigner will lead the South Korean automotive giant since its inception, highlighting a significant shift in the company’s leadership strategy aimed at enhancing global competitiveness in an evolving industry.
Hyundai Motor has appointed current US chief and global chief operating officer Jose Munoz as its new chief executive officer (CEO), effective January 1, 2025, the company said in a statement on Friday. The appointment makes Munoz the first foreigner to head a South Korean conglomerate.
Munoz joined Hyundai Motor five years ago in 2019 as its Global Chief Operating Officer. He was in charge of the carmaker’s North and South American business. Prior to that, he served at Nissan Motor for 15 years, including as chairman of its China unit.
Munoz, 59, who was born in Spain, will succeed Jehun Chang, who will continue with the group as vice-chairman of its automotive division.
Munoz’s appointment as Hyundai Motor’s first non-Korean CEO … is expected to enhance the company’s global management system and further elevate its stature as a leading global brand,” Hyundai said in a statement.
The addition of Sung Kim, a former U.S. diplomat and U.S. special representative for North Korea, as president of Hyundai Motor Co. is part of the company’s aim to “better prepare for uncertainties in the global business environment,” he said. .
Who is Jose Munoz?
Jose Munoz serves as global president and COO of Hyundai Motor Company, as well as president and CEO of Hyundai and Genesis Motor North America.
His role includes overseeing strategic performance initiatives across Europe, India and the Middle East and Africa. Munoz plays a key role in Hyundai’s global talent strategy, which focuses on acquiring and retaining talent in emerging tech sectors. He also directs global sales, service and product planning through Hyundai’s Global Business Operations division, according to his LinkedIn profile.
Operating out of Hyundai’s US headquarters in Fountain Valley, California, Munoz is responsible for the entire American market, including Hyundai Motor’s operations in North, Central and South America as the Hyundai Motor Americas region head.
Prior to joining Hyundai, Munoz held the role of Chief Performance Officer at Nissan Motor Corporation and served as Chairman of Nissan China. During his 15-year tenure with Nissan, starting in 2004, he drove record-breaking growth and sales in his areas of responsibility.
Muñoz holds a PhD in Nuclear Engineering from the Polytechnic University of Madrid and an MBA from the Instituto de Empresa (IE) Business School in Madrid. He has also completed executive programs at Cranfield School of Management in the UK and INSEAD in France.