Hyundai Motor Company has appointed José Muñoz as its new president and co-CEO, marking a significant milestone as he becomes the first foreigner to lead the South Korean automotive giant. This leadership change is seen as a key move to accelerate Hyundai’s global expansion, particularly in the areas of electrification and mobility. Muñoz, who has been with Hyundai since 2019, will assume his new role on January 1, 2025, alongside Euisun Chung and Lee Dong-seok. The appointment follows the promotion of Jaehoon Chang, the current CEO, to vice chair of Hyundai Motor Group. Muñoz will focus on enhancing Hyundai’s presence in North and South America, as well as driving the company’s strategy to solidify its position in next-generation mobility.
One of Muñoz’s key priorities as co-CEO will be to advance Hyundai’s initiatives in electrification, hydrogen technology, and powertrain innovation. He is also tasked with driving the execution of Hyundai’s global vision, “Project for Humanity,” which emphasizes a customer-centric approach in all business areas. Having previously held roles such as President and Global COO, as well as CEO of Hyundai and Genesis Motor North America, Muñoz has been instrumental in the company’s growth, achieving record sales and improved brand performance. His leadership has also contributed to Hyundai’s increased market share and strengthened its competitive position in North America.
Muñoz’s appointment comes at a time when the global automotive industry faces several challenges, including economic uncertainty, rising costs, and trade tariffs, particularly for electric vehicle manufacturers. With the election of Donald Trump as U.S. president, Hyundai is also preparing for potential shifts in the political landscape, especially regarding tariffs and trade policies that may affect the automotive sector. Jaehoon Chang expressed confidence in Muñoz’s ability to steer Hyundai through these turbulent times, stating, “Jose is a proven leader with vast global experience and is ideally suited to lead Hyundai as competitiveness and business uncertainty increases.”
In his statement, Muñoz emphasized the importance of excellence across the entire value chain, from design and engineering to manufacturing and service. He expressed his excitement about leading Hyundai into the next phase of its growth and reiterated the company’s commitment to exceeding customer expectations. “It’s truly a great time to be with Hyundai,” Muñoz said, highlighting the company’s bright future under his leadership. With Muñoz at the helm, Hyundai is poised to continue expanding its global footprint and advancing its vision for a future focused on mobility and energy solutions.
