Hyundai CEO Jaehoon Chang (left) and José Muñoz, Hyundai president and world 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 following president and CEO of the South Korean automaker, efficient Jan. 1.
Munoz, an auto business veteran who rose by way of 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 confirmed chief with huge world expertise and is ideally suited to steer Hyundai as competitiveness and enterprise uncertainty will increase,” Chang stated in a press release. “As just lately outlined at our CEO Investor Day, we have now a transparent Hyundai Means imaginative and prescient to create a future centered on mobility and power. Along with Jose and the remainder of our management crew, the longer term may be very vibrant for Hyundai.”
Munoz, a local of Spain and a U.S. citizen, would be the first non-Korean CEO of Hyundai.
Munoz at present serves as world 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.
Beneath Munoz, Hyundai’s North American operations have flourished. Hyundai’s gross sales have grown 16% since 2019 to roughly 801,200 automobiles final 12 months. Hyundai’s merchandise even have received a number of distinguished awards and business 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 on this difficult business requires excellence all through the worth chain, from design and engineering, to manufacturing, gross sales and repair, together with a gifted crew that is in a position to ship each step of the way in which,” Munoz stated. “I am excited and motivated by the problem forward and need to proceed Hyundai’s progress trajectory and laser-focus on exceeding buyer expectations. It really is a superb time to be with Hyundai.”
The corporate didn’t identify a successor for Munoz.
