Hyundai Motor Co. said that Jose Munoz would become president and CEO of the company as of January 1, 2025. He comes into the company after decades of industry experience with a great depth of knowledge having worked globally. He succeeds Jaehoon Chang, who would become vice chair, Hyundai Motor – Automotive Division.
Munoz is a native of Spain and a U.S. citizen. With this, he will become Hyundai’s first non-Korean chief executive in the firm’s history. Munoz presently serves as Hyundai’s global Chief Operating Officer, and he simultaneously holds the position of President and CEO for the company’s North America division, as well as for Genesis, its luxury brand. In 2019, Munoz joined Hyundai, with whom he has collaborated in driving such growth, particularly at the North American entity that increased its sales by 16% since then.
Hyundai consolidated its leadership of the U.S. market and achieved multiple sales records during Munoz’s tenure. Deepening the base, this involved further establishing roots with a $12.6 billion investment toward building the Hyundai Motor Group Metaplant America greenfield plant in Georgia, as well as two battery joint ventures in the same region.
Jaehoon Chang praised Munoz’s leadership and global perspective, emphasizing that his appointment comes at a critical time for Hyundai as the automotive industry faces increasing competition and uncertainty. “Jose is a proven leader with vast global experience and is ideally suited to lead Hyundai as competitiveness and business uncertainty increases,” Chang stated. He also highlighted the company’s “Hyundai Way” vision, which aims to create a future centered on mobility and energy.
In a statement, Munoz said that he is excited about the opportunity to take on this new role and pledge not to distract Hyundai from its growth trajectory by making unsound decisions. “Success in this very challenging industry demands excellence throughout the value chain, from design and engineering through manufacturing, sales and service,” he said. “I am excited and challenged by the prospect.” There has been no naming of a replacement in the role of CEO of North America.
It marks a big leadership change for Hyundai as the company strives to build a stronger foothold in an increasingly dynamic global automotive landscape.