November 28, 2024

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Jose Munoz, global chief operating officer at Hyundai Motor Company (Hyundai Motor Group)

Hyundai Motor Company has bolstered its global expertise by adding global chief operating officer Jose Munoz to the board of directors, the automaker said Thursday.

The proposal to add Munoz to the board was approved at the 55th general shareholders’ meeting held at the company’s headquarters in southern Seoul earlier in the day.

Munoz, who has 30 years of experience in the global auto industry, joined the Korean company in May 2019. He has played an integral role in securing Hyundai Motor’s competitiveness on the global stage and logging upbeat performances despite difficult environments such as the COVID-19 pandemic and shortage of semiconductor supply.

As the global COO, Munoz is in charge of optimizing Hyundai Motor Company’s sales and production operations across the world as well as advancing its business strategies. The carmaker said that it expects Munoz to help ease global uncertainties as a member of the board.

Meanwhile, Chang Jae-hoon, CEO of Hyundai Motor Company, told the shareholders the company expects to face many obstacles this year such as slowing demand for cars due to prolonged economic recession and high interest rates, reorganization of the global supply chain and unstable supply of raw materials.

The CEO said that the automaker will look to overcome the difficulties by prioritizing customer needs, securing competitiveness to become a top-tier automation auto brand, preparing future businesses and enhancing management systems for sustainable growth.

“Hyundai Motor will build trust based on endless challenges and try to continue sustainable growth through changes,” said Chang.

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