Hyundai CEO Jaehoon Chang (left) and José Muñoz, Hyundai president and global chief operating officer, attend the 2024 New York International Auto Show
Michael Wayland | CNBC
DETROIT – Hyundai Motor Co. on Thursday named Jose Munoz as the next president and CEO of the South Korean automaker, effective Jan. 1.
Munoz, an auto industry veteran who rose through the company’s North American ranks, will succeed current President and CEO Jaehoon Chang, who is 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 said in a statement. “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 native of Spain and a U.S. citizen, will be the first non-Korean CEO of Hyundai.
Munoz currently serves as global chief operating officer of Hyundai as well as president and CEO of the North American operations of Hyundai and its luxury Genesis brand. He joined Hyundai in 2019 from Nissan Motor after 15 years with the Japanese automaker. He has been a member of the company’s board of directors since 2022.
Under Munoz, Hyundai’s North American operations have flourished. Hyundai’s sales have grown 16% since 2019 to roughly 801,200 vehicles last year. Hyundai’s products also have won several prominent awards and industry accolades.
It’s also grown its U.S. operations, including Hyundai and partners committing $12.6 billion to build a new “Hyundai Motor Group Metaplant America” production 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 said. “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 company did not name a successor for Munoz.