Hyundai Motor appointed Jose Munoz as its new president and chief executive, making him the first non-Korean leader of the auto giant.

Hyundai Motor Co. on Thursday named Jose Munoz as the next president and CEO of the South Korean automaker, effective Jan. 1.

FILE PHOTO: Jose Munoz, Global President and Chief Operating Officer (COO) of Hyundai Motor Company and the president and CEO of Hyundai Motor North America looks on during the press day preview of the Los Angeles Auto Show in Los Angeles, California, U.S. November 16, 2023. REUTERS/David Swanson/File Photo

Hyundai Motor Group plans to appoint Jose Munoz as chief executive officer, making him the first foreigner to lead the automaker as it seeks to grow outside its home country, the Korea Economic Daily reported.

Hyundai Motor named Jose Munoz, current U.S. chief and global chief operating officer, as co-chief executive officer on Friday, marking a rare appointment of a foreign national to a CEO post at a major South Korean conglomerate.

Jose Munoz has been appointed president and CEO of Hyundai Motor Company, the first non-Korean CEO of Hyundai Motor.

The surprise appointment of Jose Munoz as the next chief of Hyundai Motor strongly demonstrates the South Korean automotive giant's determination to thoroughly prepare for increasingly uncertain market conditions,

Munoz, 59, joined Hyundai in 2019 as global chief operating officer, with responsibility for the carmaker's north and south American operations

Hyundai Motor appointed Jose Munoz as its new president and chief executive, making him the first non-Korean leader of the auto giant.

Hyundai Motor named Jose Munoz, current U.S. chief and global chief operating officer, as its new chief executive officer on Friday, marking a rare appointment of a foreign national to the top post at a major South Korean conglomerate.