Hyundai Motor Company President Jang Jae-hoon (left) and Hyundai Motor Company President and Global Chief Operating Officer (COO) Jose Muñoz are attending the 2024 New York International Auto Show.
Michael Wayland | CNBC
Detroit – Hyundai Motor Company Jose Munoz on Thursday was named the South Korean automaker’s next president and CEO, effective January 1.
President Munoz, who has grown into an automobile industry veteran in North America, will be promoted to Vice Chairman of Hyundai Motor Company’s Automotive Division, succeeding current President and CEO Jae-Hoon Jang.
“Jose is a proven leader with extensive global experience and is ideally suited to lead Hyundai Motor Company in a time of increasing competitiveness and business uncertainty,” Chairman Jang said in a statement. “As explained at our recent CEO Investor Day, we have a clear Hyundai Way vision to create a future centered around mobility and energy. Together with Jose and the rest of the leadership team, the future of Hyundai is very bright.”
Mr. Munoz, who was born in Spain and is a U.S. citizen, becomes the first foreign CEO of Hyundai Motor Company.
Munoz currently serves as Global Chief Operating Officer (COO) of Hyundai Motor Company and President and CEO of the North American operations of Hyundai Motor Company and the luxury Genesis brand. He joined Hyundai Motor Company in 2019 after 15 years at Japanese car manufacturer Nissan. He has served as a member of the company’s Board of Directors since 2022.
Under Munoz, Hyundai Motor Company’s North American business flourished. Hyundai Motor Company’s sales last year grew by about 16% since 2019, reaching about 801,200 units. Hyundai’s products have also received several prestigious awards and industry recognition.
It also grew its U.S. operations, including Hyundai Motor Company and its partners investing $12.6 billion to build a new “Hyundai Motor Group Metaplant America” production facility in Georgia and two battery joint ventures. .
“Success in this challenging industry requires a talented team that can deliver excellence and every step of the value chain – from design, engineering, manufacturing, sales and service,” said Munoz. “I am excited and motivated by the challenges ahead and want to focus on continuing Hyundai’s growth trajectory and exceeding our customers’ expectations. This is truly a great time to be with Hyundai.”
The company has not named Munoz’s successor.
