Hyundai Motor appoints a new CEO

Muñoz will lead Hyundai's global business and remain on its Board of Directors, driving innovation and brand growth.

Seoul, South Korea- Hyundai Motor Company., has announced the appointment of Mr. José Muñoz as the company's President and CEO, effective Jan. 1, 2025. Muñoz will lead Hyundai Motor Company's global business, succeeding current President and CEO Jaehoon Chang, who has been promoted to the Vice Chair of Hyundai Motor Group – Automotive Division.

Muñoz will lead Hyundai's customer-focused vision of 'Progress for Humanity', advancing electrification, powertrains, and hydrogen technology. He aims to strengthen Hyundai's global brand by enhancing the management system. Muñoz joined Hyundai in 2019 as President and COO, later overseeing global operations and expanding responsibilities across multiple regions.

Muñoz drove profitability-focused sales strategies, leading to record sales, market share growth, and financial success for Hyundai and Genesis in North America. His leadership contributed to Hyundai's top-three global ranking in automotive sales. He also enhanced operations, expanded dealership networks, and secured $12.6 billion for new production and battery joint ventures in Georgia.

Mr. Jaehoon Chang, said "José is a proven leader with vast global experience and is ideally suited to lead Hyundai as competitiveness and business uncertainty increases. 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 José and the rest of our leadership team, the future is very bright for Hyundai."

"It's an honor to serve Hyundai, our employees, customers, dealers and other stakeholders in this new role. Thank you to our Executive Chair Euisun Chung and Vice Chair Jaehoon Chang for your trust," added Muñoz. "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. 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."

Prior to joining Hyundai, Muñoz was the Chief Performance Officer for Nissan Motor Corporation and the Chairman of Nissan China and North America. During his 15-year tenure, he achieved significant profit growth and record sales. He also held multiple management positions at Toyota Motor Europe.

Muñoz, 59, a native of Spain and a U.S. citizen, earned his Ph.D. in nuclear engineering from Polytechnic University of Madrid and earned an Executive MBA from IE Business School in Madrid. He has also completed executive management programs from Cranfield School of Management in the U.K. and INSEAD Business School in France. He is fluent in English, Spanish and French.