Focusing on Overseas Markets... Jang Jae-hoon Promoted to Vice Chairman
Hyundai Motor Group has appointed Jose Munoz, who was in charge of the North American region, as the new CEO of Hyundai Motor Company. He is the first foreign CEO in Hyundai Motor's history. Sung Kim has been appointed as president of Hyundai Motor. This move is interpreted as a strategy to focus more on the U.S. market amid the change of administration. The current president, Jang Jae-hoon, has been promoted to vice chairman.
On the 15th, Hyundai Motor Group announced these appointments for CEO and executive positions.
First, Munoz, Hyundai Motor's Chief Operating Officer (COO) and head of the North American region, will assume the new CEO position starting January 1 next year. He is the first foreign CEO since the company's founding. Munoz joined in 2019 as Hyundai Motor's Global Chief Operating Officer (GCOO) and head of the Americas region, continuously breaking records for the North American market. Later, in 2022, he also took on the role of COO overseeing overseas regional businesses including Europe, India, and the Middle East.
Sung Kim, a Hyundai Motor advisor, has been appointed president of the group's think tank. This appointment is seen as a response to various international situations and geopolitical risks. President Kim is an expert with a background as a U.S. diplomatic official, having held key positions from the George W. Bush administration through the Obama, Trump, and Biden administrations. After retiring from the U.S. State Department, he joined Hyundai Motor Group as an advisor in January this year.
The current CEO, Jang Jae-hoon, will be promoted to vice chairman in charge of finished vehicles. Vice Chairman Jang is expected to oversee the entire value chain from product planning to supply chain management, manufacturing, and quality.
Jang Jae-hoon, the newly appointed Vice Chairman of Hyundai Motor Company. Provided by Hyundai Motor Company
Additionally, Choi Jun-young, Vice President and Chief Safety and Health Officer (CSO) in charge of Kia's domestic production, and Lee Kyu-bok, CEO (Vice President) of Hyundai Glovis, have been promoted to president. Baek Cheol-seung, Vice President of Hyundai Transys, and Oh Jun-dong, Vice President of Hyundai Kefico, have been nominated as CEOs. Lee Han-woo, Vice President of Hyundai Construction, and Joo Woo-jung, President of Hyundai Engineering, will also take on CEO roles respectively.
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