Hyundai Motor Firm has appointed its first overseas chief govt officer (CEO) in an try to increase the corporate outdoors of South Korea and solidify its management in areas corresponding to electrification.
South Korean automotive large, Hyundai Motor Firm (HMC), has appointed José Muñoz as its new president and CEO, efficient from 1 January subsequent 12 months. He would be the first foreigner to guide the corporate and is anticipated to assist it increase outdoors of South Korea.
Muñoz can be co-CEO, together with Euisun Chung and Lee Dong-seok.
He can be taking up from the present president and CEO Jaehoon Chang, who has now been promoted to vice chair of Hyundai Motor Group. Muñoz can be chargeable for the corporate’s south and north American operations and can give attention to constructing Hyundai Motor’s worldwide model.
One in every of his key goals as the brand new co-CEO can even be to strengthen Hyundai Motor’s place in next-generation mobility. This contains extra powertrain choices, in addition to electrification and hydrogen expertise. He can even be centered on higher executing Hyundai’s world imaginative and prescient, ‘Challenge for Humanity’, which takes a customer-focused method.
Muñoz has been with Hyundai Motor since 2019, in roles corresponding to president and world chief working officer (COO), in addition to president and CEO of Hyundai and Genesis Motor North America. As a part of the World Operations department, he has additionally headed service, gross sales and product planning.
He has been instrumental in reaching document gross sales, higher efficiency for each the Genesis and Hyundai manufacturers and the next market share.
Muñoz anticipated to assist Hyundai navigate by elevated world uncertainty
Muñoz’s new appointment comes at a time when the worldwide automotive trade is coping with growing uncertainty, lagging demand, and better prices for electrical automobile makers, within the type of tariffs.
As such, the change in management is anticipated to assist Hyundai higher put together for these altering financial circumstances, particularly following Donald Trump’s reelection as US President, in addition to improve world competitiveness.
Jaehoon Chang, the present president and CEO of Hyundai Motor Firm (HMC), stated in a press launch on the corporate’s web site: “Jose is a confirmed chief with huge world expertise and is ideally suited to guide Hyundai as competitiveness and enterprise uncertainty will increase.
“As lately outlined at our CEO Investor Day, we now have a transparent Hyundai Means imaginative and prescient to create a future centered on mobility and vitality. Along with Jose and the remainder of our management workforce, the long run may be very brilliant for Hyundai.”
Muñoz additionally stated within the press launch: “It’s an honor to serve Hyundai, our staff, clients, sellers and different stakeholders on this new function. Succeeding on this difficult trade requires excellence all through the worth chain, from design and engineering, to manufacturing, gross sales and repair, together with a proficient workforce that’s capable of ship each step of the way in which.
“I’m excited and motivated by the problem forward and need to proceed Hyundai’s development trajectory and laser-focus on exceeding buyer expectations. It actually is a superb time to be with Hyundai.”