Business Leaders

Hyundai Motor promotes global COO Munoz as CEO in major reshuffle

Darpan News Desk IANS, 19 Nov, 2024 04:20 PM

Hyundai Motor promoted Jose Munoz, the company's global chief operating officer (COO), as its new CEO, appointing a foreign national to the top post for the first time since its foundation more than five decades ago.

Hyundai Motor promotes global COO Munoz as CEO in major reshuffleMunoz has served as global COO of Hyundai Motor and the president and CEO of Hyundai and Genesis Motor North America. Prior to joining Hyundai, Munoz served as chief performance officer for Nissan Motor and the chairman of Nissan China.

Big news! José Muñoz, who has led our unprecedented success in North America, will become Hyundai Motor Company's President & CEO on Jan 1, 2025. Congratulations on this well-deserved global appointment! pic.twitter.com/cmCt3UFaer
— Hyundai USA (@Hyundai) November 15, 2024

The promotion of Munoz is seen as a strategic move aimed at strengthening Hyundai's response in the United States following the reelection of former US President Donald Trump, reports Yonhap news agency.

Munoz's work as CEO will begin at the start of next year, according to the company.

"Through strengthening dealer competitiveness and driving profitability-focused management, he has continuously set record performance milestones for Hyundai Motor in North America," Hyundai Motor Group said of Munoz's previous achievements.

Chang Jae-hoon, who has held the top post at the country's leading automaker since 2020, was promoted to vice chairman of Hyundai Motor Group.

Sung Kim, a former US State Department official who joined Hyundai as an adviser in January, was appointed as a president overseeing global external affairs, research of domestic and international policy trends, and communications and public relations initiatives.

In other affiliates, Kia, the country's second-largest automaker, promoted Choi Jun-young, currently vice president of domestic production division, to president. Lee Kyu-bok, vice president and CEO of logistics affiliate Hyundai Glovis Co., was also promoted to president.

Baek Cheol-seung, a vice president at Hyundai Transys Inc., an automotive parts affiliate, was appointed as CEO.

Hyundai Motor Group said it aims to "strengthen organizational foundations and accelerate future transformation" by consolidating the group's core competencies and strategically placing proven leaders with verified track records in key positions.

Photo courtesy of X (@HyundaiUSA)

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