Hyundai Motor taps US unit chief José Muñoz as new CEO

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Hyundai Motor taps US unit chief José Muñoz as new CEO - Korea Economic Daily

Quick Summary:

That's why he was assigned the role of managing Hyundai Motor's whole operations,” said an automobile industry official.“Donald Trump’s return as US president also affected the decision to appoint hime as the US market has become a more important market than ever.” In 2023, Hyundai Motor’s US sales have jumped to 870,000 versus 680,000 units in 2018.

Hyundai's CEO replacement comes as the carmaker is accelerating its globale expansion and electrification, while confronting heightened uncertainties as Donald Trump returns to presidency in Washington in January next yearMuñoz, a former senior executive of Nissan Motor Co., is credited with Hyundai’s ascent in the world’s second-largest automobile market, where its sales sharply increased under his leadership.

Hyundai Motor Co.has tapped José Muñoz, its global chief operating officer (COO) and head of North and South American operations, as new chief executive, industry sources said on Thursday.