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.
