Jose Munoz appointed as CEO of Hyundai North America, effective January 1st.

• On Thursday, Hyundai Motor Co. appointed Jose Munoz as its new president and CEO, effective January 1st.
• Jaehoon Chang, the current President and CEO of Hyundai - Automotive Division, will be promoted to the vice chair position, and Munoz will succeed him as President and CEO.
• A non-Korean, Munoz, who is originally from Spain and a U.S. citizen, will become the first CEO of Hyundai.

The South Korean automaker, effective Jan. 1, named Jose Munoz as its next president and CEO.

Jaehoon Chang, the current president and CEO of Hyundai – Automotive Division, will be promoted to the vice chair of the company, while Munoz, an experienced auto industry veteran who advanced through Hyundai's North American division, will take over as president and CEO.

"Jose, with his extensive global experience and proven leadership skills, is the ideal candidate to lead Hyundai as the company faces increasing competitiveness and business uncertainty, according to Chang. As outlined at the CEO Investor Day, Hyundai has a clear vision for the future centered on mobility and energy. With Jose and the rest of the leadership team, the future looks bright for Hyundai."

A non-Korean, Munoz, who is originally from Spain and a U.S. citizen, will become the first CEO of Hyundai.

Currently, Munoz is the global chief operating officer of Hyundai and the president and CEO of its North American operations and luxury Genesis brand. He joined Hyundai in 2019 from Nissan Motor after 15 years with the Japanese automaker. He has been a member of the company's board of directors since 2022.

Under Munoz, Hyundai's North American operations, including Genesis, have thrived. Its sales have increased by 16% since 2019 to approximately 801,200 vehicles last year. Additionally, Hyundai's products have received numerous prestigious awards and recognition in the industry.

Hyundai and its partners have invested $12.6 billion in the U.S. to establish a new production facility and two battery joint ventures.

"To succeed in this demanding industry, it is essential to maintain excellence throughout the entire value chain, from design and engineering to manufacturing, sales, and service, as well as a skilled team capable of delivering every step of the process, according to Munoz. I am thrilled and energized by the challenges ahead and am committed to continuing Hyundai's growth trajectory and maintaining a relentless focus on exceeding customer expectations. It is an excellent time to be part of the Hyundai team."

The company did not name a successor for Munoz.