Hyundai Motor Company has appointed José Muñoz as its new co-CEO and president, making history as the first foreigner to hold such a leadership role at the South Korean automotive powerhouse. Muñoz, who will begin his tenure on January 1, 2025, takes over from Jaehoon Chang, who has been promoted to vice chair of Hyundai Motor Group. Alongside Euisun Chung and Lee Dong-seok, Muñoz will guide Hyundai’s expansion, particularly focusing on enhancing the company’s position in electrification, hydrogen technology, and global market growth.
Having been with Hyundai since 2019, Muñoz brings a wealth of experience to the role, including previous positions as global chief operating officer and CEO of Hyundai and Genesis Motor North America. In these roles, he played a crucial part in driving record sales and expanding Hyundai’s market share. His leadership has also been pivotal in strengthening both the Hyundai and Genesis brands, especially in North America. As co-CEO, Muñoz will now focus on overseeing operations in the Americas and advancing Hyundai’s global strategy, particularly its “Project for Humanity,” which emphasizes a customer-first approach to next-generation mobility.
Muñoz’s appointment comes at a time when the automotive industry faces rising uncertainty, with challenges like tariffs, fluctuating demand, and rising costs for electric vehicle manufacturers. Hyundai’s leadership believes Muñoz’s expertise will help the company navigate these challenges, particularly as the political and economic environment evolves with the re-election of Donald Trump. Hyundai’s leadership also expressed confidence in Muñoz’s ability to steer the company through shifting global dynamics, with Chang calling him a “proven leader” who is well-equipped to handle increased competitiveness and business uncertainty.
Muñoz, in turn, expressed his excitement about his new role and the opportunities it presents. He stressed the importance of excellence across every stage of Hyundai’s value chain, from design and engineering to manufacturing and customer service. “I’m excited and motivated by the challenge ahead and want to continue Hyundai’s growth trajectory and laser-focus on exceeding customer expectations,” Muñoz said. Under his leadership, Hyundai is poised to further solidify its place at the forefront of the automotive industry while continuing its expansion into electrification and sustainable energy solutions.