Hyundai Appoints Jose Muñoz as New Global CEO
Hyundai has made a significant leadership change by naming Jose Muñoz as its new global CEO, effective from 1 January. Muñoz, who currently serves as the company’s chief operating officer, will succeed Jaehoon Chang, who has been promoted to vice chair of Hyundai’s automotive division.
Originally from Spain, Muñoz will make history as the first non-Korean to lead Hyundai Motor Company since its establishment in 1967. His impressive career at Hyundai started in 2019 when he was appointed as the global chief operating officer. He also held the position of president and CEO of Hyundai and luxury brand Genesis in the US. In 2022, he joined the board of directors and expanded his role to cover Europe, India, the Middle East, and Africa.
Known for his expertise in driving profitability-focused sales strategies, Muñoz has played a pivotal role in optimizing volume and managing margins for Hyundai. Under his leadership, both the Hyundai and Genesis brands achieved record sales, market share growth, and financial performance in the competitive North American market.
Prior to joining Hyundai, Muñoz had a successful 15-year tenure at Nissan, where he held various high-ranking positions and contributed significantly to profit growth and sales records. His appointment as CEO comes at a crucial time for Hyundai as the company accelerates its global electrification strategy, with the highly anticipated Ioniq 9 flagship set to be unveiled soon, along with plans to launch over 20 electric vehicles by 2030.
As Hyundai focuses on advancing its hydrogen propulsion ambitions, Muñoz will prioritize expanding the company’s global offering of fuel cell vehicles, including the upcoming Nexo model. With a commitment to investing in hydrogen as an alternative energy solution for passenger cars, commercial vehicles, and industrial applications, Hyundai aims to meet the diverse demands of different regions worldwide.
In his statement, Muñoz expressed gratitude for the opportunity to lead Hyundai and emphasized the importance of excellence across the value chain to drive growth and exceed customer expectations. He highlighted the talented team at Hyundai and their dedication to delivering exceptional results in all aspects of the business.
Outgoing CEO Jaehoon Chang commended Muñoz as a proven leader with extensive global experience, stating that he is well-equipped to navigate the increasing competitiveness and business uncertainties facing Hyundai. With a clear vision for the future and a focus on innovation, Muñoz is poised to lead Hyundai to new heights in the ever-evolving automotive industry.
