Hyundai makes big moves to secure its global future [report]

In a historic move, South Korean automaker Hyundai Motors appointed its first foreign Chief Executive Officers. 

On November 15, 2024, Hyundai Motor Company (HMC) announced the appointment of José Muñoz as the automaker’s President and CEO, effective January 1, 2025. Muñoz will be succeeding Hyundai’s current President and CEO Jaehoon Chang. HMC’s current President and CEO will be promoted to the Vice Chair of Hyundai Motor Group. 

“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.”

Muñoz’s appointment to Hyundai’s President and CEO is historic for the South Korean automaker because he is the first foreign national to take the position. Muñoz is a Spanish native and US citizen with a PhD in Nuclear engineering. He will oversee the execution of the Hyundai’s customer-focused “Progress for Humanity.”

“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.

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