Hyundai Motor Company has announced a major leadership change, appointing Spanish businessman José Muñoz as its new President and Chief Executive Officer. The appointment, effective January 1, 2025, will see Muñoz succeed Jaehoon Chang, who has been promoted to Vice Chair of Hyundai Motor Group’s Automotive Division. Muñoz will be leaving his post as President and CEO of Hyundai and Genesis Motor North America, where he has worked wonders, overseeing numerous brands and helping pave the way for new models like the Ioniq 5.
Hyundai
Hyundai Motor Company was founded in 1967 by Chung Ju-yung, 20 years after the birth of the Hyundai Engineering and Construction Company. The automotive marque’s first model was the Cortina, birthed with the help of Ford in 1968, while its first self-developed car arrived the year after as the Pony. Since then, the company has found success with affordable cars and has consistently become known for reliability and value. Nowadays, its ventures vary from combustion, hybrid, all-electric, and hydrogen mobility solutions to robotics.
- Founded
- 29 December 1967
- Founder
- Chung Ju-yung
- Headquarters
- Seoul, South Korea
- Owned By
- Hyundai Motor Group
- Current CEO
- Jae-Hoon Chang
Muñoz joined Hyundai Motor Corporation in 2019 as President and Chief Operating Officer (apart from his leadership roles in North America), and has played a pivotal position in expanding the brand’s market reach and enhancing financial performance. With a proven track record in global automotive operations, Muñoz is set to drive Hyundai’s customer-centered vision, focusing on innovation in electrification, diversified powertrains, and hydrogen technology.
“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.”
– Jaehoon Chang, outgoing President and CEO, Hyundai Motor Company
Achievements & Strategies
José Muñoz’s tenure at Hyundai saw the company ranking third among global automotive companies by sales. He spearheaded profitability-focused strategies that resulted in record sales and market share growth for Hyundai and Genesis in North America. Additionally, Muñoz led the company’s $12.6 billion investment in US-based production facilities, including the Metaplant and two battery joint ventures in Georgia.
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Globally, Muñoz’s oversight expanded to regions like Europe, India, and Asia Pacific, where he boosted operational performance and dealership networks. As CEO, he aims to enhance Hyundai’s global management systems and sustain the brand’s upward trajectory by aligning it with future-focused mobility and sustainability goals.
A Seasoned Auto Executive
Muñoz is a seasoned automotive executive, bringing over two decades of leadership experience to his new role. Before joining Hyundai, he was the Chief Performance Officer for Nissan Motor Corporation (2016-2019) and held senior executive positions for Nissan North America (2012-2016). He also had multiple management positions at Toyota Motor Europe (1999-2004). A native of Spain and a US citizen, Muñoz holds a Ph.D. in nuclear engineering and an Executive MBA.
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“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,” said Muñoz.
News Summary:
- Hyundai Is About To Get A Lot More American Influence
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