November 16, 2024

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From left: Chang Jae-hoon, CEO of Hyundai Motor Co., Jose Munoz, global chief operating officer at Hyundai Motor Co., and Sung Kim, adviser to Hyundai Motor Group (Hyundai Motor Group)

Hyundai Motor Group appointed Jose Munoz, global chief operating officer at Hyundai Motor Co., as the next CEO of the auto brand on Friday, marking the conglomerate’s first-ever appointment of a foreign leader.

The appointment is to take effect on Jan. 1. Munoz, a native of Spain and a US citizen, joined the Korean automaker in 2019 and has served as president and global COO of Hyundai Motor Co. as well as president of Hyundai and Genesis Motor North America.

“Through strengthening dealer competitiveness and driving profitability-focused management, (Munoz) has continuously set record performance milestones for Hyundai Motor in North America,” Hyundai Motor Group stated in a press release.

“As a result, Munoz is appointed as the first non-Korean CEO of Hyundai Motor – identified as the ideal fit to further enhance the company's performance thanks to his merit-based management philosophy and his commitment to recruiting top global talent. Going forward, he is expected to enhance the company’s global management systems and further elevate its stature as a leading global brand.”

Hyundai Motor highlighted that Munoz led a profitability-focused sales structure through optimized volume and profit management, contributing to the Korean auto conglomerate’s achievement of ranking as the third-biggest automaker by sales.

“Succeeding in this challenging industry requires excellence throughout the value chain, from design and engineering to manufacturing, sales and service, along with a talented team that’s able to deliver every step of the way,” said Munoz.

“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.”

Chang Jae-hoon, the current CEO of Hyundai Motor Co., has been promoted to the group’s vice chair and will be in charge of the conglomerate’s automotive division.

Chang has served as the CEO of Hyundai Motor Co. since 2020, leading the automaker’s record-breaking performances over the past few years despite challenging business environments. Hyundai Motor pointed out that Chang’s leadership has driven aggressive business strategies, agile market responses and profitability enhancement initiatives.

“Chang is recognized for laying the groundwork for Hyundai Motor's long-term competitiveness through achievements that include spearheading the hydrogen initiative and the successful IPO of Hyundai Motor India Limited in India,” said the group.

“Looking ahead, Chang will oversee the entire value chain, including product planning, supply chain management manufacturing and quality assessment. He will optimize business operations across the automotive business while securing internal synergies and building foundational systems for cost and quality innovation to ensure sustainable future competitiveness.”

Sung Kim, who joined Hyundai Motor Group as an adviser in January this year following his retirement from the US Department of State, has been appointed as president of Hyundai Motor Co. As one of the most prominent US experts on East Asian and Korean issues, Kim has held key positions in Washington across the last four administrations.

“As part of his appointment to enhance the company’s think tank capabilities and better navigate various geopolitical challenges, Kim will oversee global external affairs, analyze and research domestic and international policy trends and lead communications and (public relations) initiatives,” said the automaker.

“He will focus on increasing synergies across the company’s intelligence functions, strengthening external networking and advancing global protocol capabilities.”

Two executive vice presidents -- Choi Jun-young of Kia and Lee Kyoo-bok of Hyundai Glovis -- have been promoted to president.

Hyundai Motor appointed Baek Cheol-seung, executive vice president at Hyundai Transys, as CEO there. Oh Joon-dong, current head of the electrification manufacturing engineering center at Kia, has been nominated as the next CEO of Hyundai Kefico.

To address challenges in the construction industry and accelerate fundamental improvements, the conglomerate appointed Lee Han-woo, senior vice president and head of the housing works division at Hyundai Engineering & Construction, as CEO of Hyundai E&C and Joo Woo-jeong, chief financial officer at Kia, as CEO of Hyundai Engineering.

The automaker noted that the executive appointments were made as part of a strategic effort to enhance global competitiveness, focusing on talent and performance.

By Kan Hyeong-woo (hwkan@heraldcorp.com)