Hyundai hires ex-Nissan executive Jose Munoz as global COO

Hyundai Motor Co has appointed Jose Munoz as its global chief operating officer and chief of Americas. Munoz was formerly considered an ally and potential successor of Nissan Motor Co Ltd's ousted Chairman Carlos Ghosn.

The automaker said in a statement issued last week in the United States, “(Munoz's) focus will be to deliver profitable growth and to improve overall performance of Hyundai Motor.”

Munoz is the latest foreign executive to be tapped by the South Korean automaker, at a time when plunging sales in both China and the United States, the world's two biggest auto markets, has forced a major management overhaul. 

Interestingly, his appointment also comes at a time when Munoz's former boss at Nissan is awaiting trial for financial misconduct. Carlos Ghosn’s arrest had led to an investigation into corporate governance at the Japanese automaker in which Munoz was cited as a "person of interest".

Consequently, Munoz resigned in January, stating Nissan was involved in matters that would divert its focus and that he looked forward to continuing to assist with investigations. At that time, he was Nissan's China head and chief performance officer, spearheading Nissan's results and global strategies.

At Hyundai, Munoz will succeed William Lee, who has led Hyundai's North America business since June. On May 1, he will effectively assume two newly created roles: Global Chief Operating Officer and Head of Hyundai Motor Americas Region. He will be based in California and report to top leadership in Seoul.

Munoz joined Nissan in 2004 in Europe and led its expansion in North America after the global financial crisis. Under his direction, Nissan raised its US market share and posted record sales, though sales have since weakened. On the other hand, while Hyundai has seen its US market share slip in recent years. How successful will Munoz be in arresting falling sales, will be keenly watched.

Image Credits: Detroit Bureau