José Muñoz has been named President and CEO of Hyundai Motor Company (HMC). The 59-year-old Spaniard is the first foreign-born CEO of the South Korean automotive giant.
Muñoz will lead HMC’s global business, effective 1 January, 2025, and succeeds current President and CEO Jaehoon Chang.
He joined Hyundai in 2019 and was formerly CEO of Hyundai Motor America. In 2022, he was named to the Hyundai Motor Company Board of Directors with expanded responsibilities to include the Middle East, apart from Europe, India, Africa, and Asia Pacific. He also led global sales, service and product planning as part of the Global Operations Division.
“It’s an honour to serve Hyundai, our employees, customers, dealers and other stakeholders in this new role,” said 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.”
Hyundai, along with sister company Kia, is the world’s third-biggest automaker and ranked second behind Tesla in electric vehicle sales in the US. With newly elected President Donald Trump saying he’d impose tariffs on imports and cut subsidies for EVs, Munoz is expected to face a significant headwind as soon as he takes over.
Hyundai Motors’ global leadership
In a statement, Hyundai said: “Muñoz will oversee the execution of the company’s customer-focused vision of ‘Progress for Humanity’, building on its leadership position in next-generation mobility, including electrification, diversified powertrain offerings and hydrogen technology. He will also focus on advancing the company’s global management system to further strengthen Hyundai Motor’s status as a global brand.”
The company added that Muñoz “drove a profitability-focused sales structure through optimised volume and profit management” and under his leadership, $12.6 billion is being invested to build the new Hyundai Motor Group Metaplant America production facility and two battery joint ventures in Georgia.
Jaehoon Chang added: “Jose is a proven leader with vast global experience and is ideally suited to lead Hyundai as competitiveness and business uncertainty increases.
“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.”
Before joining Hyundai, Muñoz, who has a PhD in nuclear engineering, was the Chief Performance Officer for Nissan Motor Corporation and the Chairman of Nissan China and North America.
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