On November 14, Hyundai Motor Company announced a significant shift in its C-suite leadership team. Jose Muñoz, COO of Hyundai Motor and CEO of Hyundai and Genesis Motor North America, will be stepping into the global president and CEO role, effective January 1, 2025.
Muñoz will succeed Jaehoon Chang, the current CEO, who was promoted to vice chair of Hyundai Motor Group’s Automotive Division.
Since his arrival at Hyundai in 2019, Muñoz has steered the company to record-breaking sales, profitability, and market share growth in North America. His election to the board of directors in 2023 as the first non-Korean executive is a testament to the trust in his leadership and his significant achievements.
Under Muñoz’s guidance, Hyundai and Genesis have made remarkable progress, surpassing industry standards. Sales have seen a substantial increase from 677,9444 in 2018 to 870,370 in 2023, a testament to the company’s growth trajectory.
During his tenure, the automaker also invested $12.6 billion in electric vehicles (EVs), batteries, and mobility solutions. He spearheaded the development of the Metaplant, a $7.6 billion EV and battery factory, which was a joint venture with LG Energy Solution.
In his new role, Muñoz will lead Hyundai’s Progress for Humanity vision and steer the company towards full electrification. His vision and leadership will inspire the company’s future direction.
While Hyundai has not yet disclosed Muñoz’s successors for his COO and North America CEO roles, announcements are expected soon.
