Hyundai Motor has appointed José Muñoz, its current US Chief and Global Chief Operating Officer, as the new Chief Executive Officer, marking a rare move for a South Korean conglomerate to place a foreign national in its top leadership role. The outgoing CEO, Chang Jae-hoon, will transition to the position of Vice Chair of Hyundai Motor Group, where he will oversee the automotive division.

As part of the leadership reshuffle, the company also named Sung Kim, a former US diplomat and special representative for North Korea, as President of Hyundai Motor Company. These changes aim to strengthen Hyundai's ability to navigate challenges in the global business environment. Muñoz, a Spanish national and former CEO of Hyundai Motor America, has been recognized for driving the company’s electrification efforts and boosting sales across various vehicle segments. 

"Munoz is appointed as the first non-Korean CEO of Hyundai Motor... is expected to enhance the company's global management systems and further elevate its stature as a leading global brand," the South Korean automaker said in a statement.