Press Release – November 15, 2024

• Muñoz to lead Hyundai Motor Company’s global business
• Continues to serve on the Hyundai Motor Company Board of Directors

SEOUL, November 15, 2024 – Hyundai Motor Company (HMC) today announced the appointment of José Muñoz as the company’s President and CEO, effective Jan. 1, 2025. Muñoz will lead Hyundai Motor Company’s global business, succeeding current President and CEO Jaehoon Chang, who has been promoted to the Vice Chair of Hyundai Motor Group.

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.

Muñoz joined Hyundai Motor Company in 2019 as President and Global Chief Operating Officer and President and CEO of Hyundai and Genesis Motor North America. In 2022, Muñoz was announced to the Hyundai Motor Company Board of Directors with expanded responsibilities to include Europe, India, Middle East and Africa, and Asia Pacific. He also led global sales, service and product planning as part of the Global Operations Division.

In addition, Muñoz drove a profitability-focused sales structure through optimized volume and profit management. This resulted in record sales, market share growth and financial performance for both the Hyundai and Genesis brands in the North American market, contributing to the Group’s achievement of ranking in the top three of global automotive companies by sales.

He has enhanced operational performance, strengthened dealership networks and improved the company’s competitiveness by attracting and retaining top leadership talent. 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.

“Jose is a proven leader with vast global experience and is ideally suited to lead Hyundai as competitiveness and business uncertainty increases,” said Jaehoon Chang. “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 Jose and the rest of our leadership team, the future is very bright for Hyundai.”

“It’s an honor to serve Hyundai, our employees, customers, dealers and other stakeholders in this new role. Thank you to our Executive Chair Euisun Chung and Vice Chair Jaehoon Chang for your trust,” added 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.”

Prior to joining Hyundai, Muñoz was the Chief Performance Officer for Nissan Motor Corporation and the Chairman of Nissan China and North America. During his 15-year tenure, he achieved significant profit growth and record sales. He also held multiple management positions at Toyota Motor Europe.

Muñoz, 59, a native of Spain and a U.S. citizen, earned his Ph.D. in nuclear engineering from Polytechnic University of Madrid and earned an Executive MBA from IE Business School in Madrid. He has also completed executive management programs from Cranfield School of Management in the U.K. and INSEAD Business School in France. He is fluent in English, Spanish and French.

Source : Hyundai