Hyundai Motor Company has made a significant leadership change by appointing Jose Munoz as its new President and CEO, effective January 1, 2025. This appointment marks a rare instance of a foreign national leading a major South Korean conglomerate. Munoz, who has been serving as the Global Chief Operating Officer and President and CEO of Hyundai Motor North America, will succeed Jaehoon Chang, who has been promoted to Vice Chair of Hyundai Motor Group's Automotive Division.

Munoz's appointment is part of Hyundai's strategy to strengthen its global management systems and enhance its stature as a leading global brand. Under Munoz's leadership, Hyundai's North American operations have seen significant growth, with sales increasing by 16% since 2019. He has also been instrumental in Hyundai's commitment to electrification and the expansion of its U.S. operations, including a $12.6 billion investment in a new production facility and battery joint ventures in Georgia.

The leadership change comes as Hyundai and its affiliate Kia Corp brace for potential policy shifts under President-elect Donald Trump's second tenure, which may impact the electric vehicle market. Munoz, a native of Spain and a U.S. citizen, brings extensive global experience from his previous roles at Nissan Motor, where he served as Chief Performance Officer and Chairman of China and North America operations.

Hyundai's decision to appoint Munoz reflects its focus on navigating the uncertainties of the global business environment and its commitment to advancing its 'Progress for Humanity' vision, which emphasizes next-generation mobility and sustainability. The company aims to continue its growth trajectory and maintain its position among the top three global automotive companies by sales.