Hyundai Motor Co. has named José Muñoz as its new CEO, making him the first foreigner to lead the South Korean automaker, according to reports.
Muñoz, 59, brings a wealth of experience to the role. He joined Hyundai in 2019 as global chief operating officer, overseeing operations in North and South America. Before Hyundai, he spent 15 years at Nissan Motor Co., where he held key roles, including chairman of its China operations.
Effective January 1, 2025, Muñoz will succeed Jaehoon Chang, who will transition to a new position as vice-chairman of Hyundai’s automotive division.
His appointment comes at a critical time as the global automotive industry grapples with challenges in the transition to electric vehicles. Muñoz’s leadership will play a key role as Hyundai addresses these challenges, including recent U.S. policy changes that could affect tax credits for electric vehicle buyers. Hyundai’s Ioniq 5, a popular EV model, is among those eligible for these incentives.
In addition, Hyundai has announced other leadership changes. Sung Kim has been appointed president of Hyundai Motor, while Jun Young Choi will take over as president of Kia Corp., Hyundai’s sister company.
