Hyundai CEO Jaehoon Chang (left) and José Muñoz, Hyundai president and international chief working officer, attend the 2024 New York Worldwide Auto Present
Michael Wayland | CNBC
DETROIT – Hyundai Motor Co. on Thursday named Jose Munoz as the subsequent president and CEO of the South Korean automaker, efficient Jan. 1.
Munoz, an auto trade veteran who rose by the corporate’s North American ranks, will succeed present President and CEO Jaehoon Chang, who’s being promoted to the vice chair of Hyundai Motor – Automotive Division.
“Jose is a proven leader with vast global experience and is ideally suited to lead Hyundai as competitiveness and business uncertainty increases,” Chang stated in an announcement. “As recently outlined at our CEO Investor Day, we have a clear Hyundai Way vision to create a future centered on mobility and energy. Together with Jose and the rest of our leadership team, the future is very bright for Hyundai.”
Munoz, a local of Spain and a U.S. citizen, would be the first non-Korean CEO of Hyundai.
Munoz presently serves as international chief working officer of Hyundai in addition to president and CEO of the North American operations of Hyundai and its luxurious Genesis model. He joined Hyundai in 2019 from Nissan Motor after 15 years with the Japanese automaker. He has been a member of the corporate’s board of administrators since 2022.
Underneath Munoz, Hyundai’s North American operations have flourished. Hyundai’s gross sales have grown 16% since 2019 to roughly 801,200 automobiles final yr. Hyundai’s merchandise even have received a number of distinguished awards and trade accolades.
It is also grown its U.S. operations, together with Hyundai and companions committing $12.6 billion to construct a brand new “Hyundai Motor Group Metaplant America” manufacturing facility and two battery joint ventures in Georgia.
“Succeeding in this challenging industry requires excellence throughout the value chain, from design and engineering, to manufacturing, sales and service, along with a talented team that’s able to deliver every step of the way,” Munoz stated. “I’m excited and motivated by the challenge ahead and want to continue Hyundai’s growth trajectory and laser-focus on exceeding customer expectations. It truly is a great time to be with Hyundai.”
The corporate didn’t identify a successor for Munoz.
