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.

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 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 has named Jose Munoz, its U.S. chief and global chief operating officer, as co-CEO, the first appointment of a foreign national to that rank at a major South Korean conglomerate. The move - along with the appointment of a former U.

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 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.

Hyundai Motor Co. on Friday promoted Jose Munoz, the company's global chief operating officer (COO), as its new CEO, appointing a foreign national to the top post for the first time since its foundation more than five decades ago.

Jose Muñoz, COO of Hyundai Motor Co. and CEO of Hyundai and Genesis Motor North America, will step into the top position at the global automaker at the start of the new year.