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José Muñoz to Lead Hyundai Motor as CEO in 2025

Hyundai Motor new CEO José Muñoz

Hyundai Motor Company (HMC) announces José Muñoz as its new President and CEO, effective January 1, 2025. Muñoz will succeed Jaehoon Chang and become the first foreigner to lead the South Korean automotive giant. Chang receives a promotion to Vice Chair of Hyundai Motor Group.

In his new role, Muñoz will lead Hyundai’s global business operations, focusing on advancing the company’s vision of ‘Progress for Humanity.’ His key priorities will include expanding Hyundai’s powertrain offerings, advancing electrification, and further developing hydrogen technology. Additionally, he will strengthen Hyundai’s global management system to elevate its position as a top global brand.

A Proven Leader with a Vision for Global Growth

Muñoz joined Hyundai in 2019, serving as President, Global Chief Operating Officer, and President and CEO of Hyundai and Genesis Motor North America. Over the years, his responsibilities grew to overseeing operations in Europe, India, the Middle East, Africa, and Asia Pacific. His leadership resulted in record sales, improved market share, and enhanced financial performance, particularly in North America.

Muñoz also played a vital role in Hyundai’s growth strategy, leading initiatives like securing $12.6 billion to build the Hyundai Motor Group Metaplant America production facility and two battery joint ventures in Georgia.

Jaehoon Chang praises Muñoz’s leadership: “Jose is a proven leader with vast global experience and is ideally suited to lead Hyundai as competitiveness and business uncertainty increases.” Chang also highlights Hyundai’s “Hyundai Way” vision, which aims to create a future focused on mobility and energy. He concludes, “Together with Jose and the rest of our leadership team, the future is very bright for Hyundai.”

Driving Hyundai’s Future Success

In response, Muñoz expresses gratitude and commitment to Hyundai’s mission: “It’s an honor to serve Hyundai, our employees, customers, dealers, and other stakeholders in this new role. Succeeding in this challenging industry requires excellence throughout the value chain, from design and engineering to manufacturing, sales, and 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. It truly is a great time to be with Hyundai.”

Muñoz’s appointment comes as the automotive industry faces global uncertainty, including rising costs and demand shifts. With his global experience and track record of driving profitability, Muñoz will help Hyundai navigate these challenges and strengthen its competitive edge further.

Before joining Hyundai, Muñoz served as the Chief Performance Officer at Nissan and Chairman of Nissan China and North America, where he achieved significant profit growth and record sales. He also held various management positions at Toyota Motor Europe.

Muñoz, 59, is a native of Spain and a U.S. citizen. He holds a Ph.D. in nuclear engineering from the Polytechnic University of Madrid and an Executive MBA from IE Business School in Madrid. He has completed executive management programs at Cranfield School of Management in the U.K. and INSEAD Business School in France. Fluent in English, Spanish, and French, Muñoz brings a broad international perspective to his leadership role.

With Muñoz at the helm, Hyundai will continue to succeed and grow in the global automotive market, driving forward its commitment to innovation and excellence in next-generation mobility.

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JOALI Island Homes: Invest in Unmatched Luxury on a Private Maldives Island

JOALI Island Homes interior

JOALI launches Island Homes, offering a rare opportunity to own a private residence on the world’s first wellbeing island in the Maldives. The island sits just a 40-minute scenic seaplane ride from Velana International Airport or a 90-minute leisurely yacht cruise from Maafaru International Airport, the region’s closest private jet landing runway.

Moreover, guests can choose from one- to four-bedroom homes, located either on the beach or perched over the water. These homes embrace biophilic architectural principles, creating a seamless connection between indoor spaces and the lush natural surroundings. The residences feature cathedral-like ceilings, large floor-to-ceiling windows, and organic materials such as wood, stone, and bamboo. As a result, these elements invite sunlight and the island’s beauty to flow inside, creating a serene living environment.

Ranging from 230 to 1,700 square meters, each residence includes expansive living areas, a private swimming pool, and luxurious amenities such as indoor and outdoor showers and standalone bathtubs. In addition, technologically advanced home systems allow residents to control ambiance and temperature, ensuring comfort and personalization at all times.

The Ultimate in Luxury Island Living

For those seeking the pinnacle of luxury, the Four Bedroom Wellbeing Private Ocean Residence stands as the crown jewel. Positioned just meters above the turquoise Maldivian waters and facing the sunset, this home provides stunning views of vibrant marine life, including dolphins, sea turtles, and manta rays. Furthermore, inside, the residence offers generous indoor and outdoor living spaces, including lounges, entertainment areas, and four spacious bedrooms, three of which feature breathtaking sea views. The home also includes a 118-square-meter infinity pool, an enclosed kitchen, and a dedicated wellbeing complex complete with a sauna, treatment room, and fitness area outfitted with Technogym equipment and a Pilates Cadillac.

For those who prefer a beachfront lifestyle, the Three-Bedroom Wellbeing Beach Residence grants private access to the island’s pristine ivory-sanded beaches. In particular, this home includes elegantly appointed living and dining areas, both indoors and outdoors, a 105-square-meter private pool, a convivial kitchen with an island, a gym, and a massage cabana. Each bedroom enjoys private views of the Indian Ocean, with access to both indoor and outdoor bathrooms, as well as luxurious bathtubs for ultimate relaxation.

An Exclusive Retreat for Wellbeing

JOALI BEING dedicates itself entirely to wellbeing. The island includes 68 villas and residences, alongside 39 transformational spaces like Watsu Pools, a Himalayan Salt Inhalation Room, a Cryotherapy Chamber, Herbology, and a Sound Healing Room. Notably, the experiences on the island center around the Four Pillars of JOALI BEING—Mind, Skin, Microbiome, and Energy. Created by renowned experts, including Oxford University Professor Gerry Bodeker, these pillars guide the bespoke Wellbeing Journeys led by an in-house team of naturopaths, nutritionists, Watsu therapists, sound healing specialists, herbalists, mind and body movement experts, and doctors specializing in Ayurveda and Traditional Chinese Medicine.

In addition to that, guests of all ages can immerse themselves in wellbeing workshops at B’Kidult, the first-ever multi-generational playground. Here, visitors can learn to make natural self-care products with resident herbalists or explore the power of sound healing under the guidance of expert practitioners.

A Taste of Luxury: Culinary Delights at JOALI BEING

The culinary arts at JOALI BEING focus on an earth-to-table philosophy, featuring three restaurants, a bar, a tea lounge, and several destination dining venues. FLOW Restaurant serves international dishes from open-plan kitchens, while Su offers pescatarian delicacies. Plantae serves vibrant vegetarian and vegan fare, and B’Well prepares dishes with premium meat and poultry selections. Additionally, MOJO restaurant and bar acts as the island’s tropical beach sanctuary, offering Mediterranean and international cuisine alongside hand-crafted drinks in a laid-back setting. Yutori, located over the lagoon, offers guests mindful Japanese cuisine curated by Michelin-star chef Yamamoto Hidemasi.

Esin Güral Argat, Founder and Vice President of JOALI, comments:

“JOALI was founded in 2019 in a sea of competitive international luxury hospitality brands with a history of over 100 years. Our approach in hospitality to unveil a lifestyle brand with a soul brought an unconventional paradigm shift in the industry, disrupting the norms. JOALI Maldives is the first art-immersive resort and the second property, JOALI BEING is the first wellbeing island in the Maldives. As we continue our journey, we are excited to script our next chapter in the wellness real estate space, an opportunity to enhance our portfolio further and welcome our loyal customers to connect in JOALI’s exclusive community.”

Invest in the World’s First Wellbeing Island

The wellness real estate market has become the fastest-growing sector of the wellness economy. As the Global Wellness Institute reported, it has nearly doubled from $225 billion in 2019 to $438 billion in 2023. The JOALI Island Homes starts at USD 5 million+ for a residence, offering a unique opportunity to invest in this one-of-a-kind wellbeing retreat in the Maldives.

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