Hyundai Names José Muñoz as New Co-CEO Amid Global Challenges

South Korea’s Hyundai Motor Company (HMC) has announced that José Muñoz will take on the roles of president and co-CEO starting January 1 next year. This historic appointment marks the first time a foreigner will lead the automotive giant, a move aimed at strengthening the company’s presence beyond its home market.

Muñoz will share leadership duties with Euisun Chung and Lee Dong-seok, taking over from Jaehoon Chang, who has been promoted to vice chair of Hyundai Motor Group. Muñoz will oversee Hyundai’s operations across North and South America and will work to enhance the company’s global reputation.

One of his key objectives will be to advance Hyundai’s efforts in next-generation mobility, including innovations in powertrains, electrification, and hydrogen technologies. He will also spearhead the company’s global “Project for Humanity” initiative, a customer-centric approach that aligns with Hyundai’s long-term vision.

Since joining Hyundai in 2019, Muñoz has held prominent roles, including president and global COO, as well as president and CEO of Hyundai and Genesis Motor North America. Under his leadership, the company achieved record-breaking sales, improved performance across both brands, and expanded market share. His extensive experience also includes overseeing service, sales, and product planning as part of Hyundai’s Global Operations division.

The leadership transition comes at a time of heightened challenges for the automotive industry, including economic uncertainties, declining demand, and rising costs associated with electric vehicle production. Industry observers believe Muñoz’s leadership will better position Hyundai to navigate these issues while enhancing its global competitiveness.

Hyundai’s leadership expressed confidence in Muñoz’s ability to guide the company during this pivotal period. Jaehoon Chang, the outgoing president and CEO, praised Muñoz’s extensive experience and proven leadership skills, describing him as ideally suited to address the rising competitiveness and uncertainties facing the industry.

Muñoz, in turn, stated his enthusiasm for the challenges ahead, emphasizing the importance of operational excellence across the value chain—from design and engineering to manufacturing and sales. He highlighted Hyundai’s commitment to innovation and customer satisfaction, expressing his eagerness to continue driving the company’s growth.

With Muñoz at the helm, Hyundai is expected to make bold strides in both mobility technology and global market presence, setting a strong course for the future.

Have you read?
World’s Best Countries To Invest In Or Do Business.
World’s Most Startup-Friendly Countries.
World’s Best Countries For Quality of Life.
Largest Economies Europe In 2024.
GDP of the BRICS countries (2000 to 2028).