Hyundai hires former Ghosn ally Munoz as global COO, Americas head GlobeBusiness
Hyundai Motor Co. has appointed Jose Munoz as global chief operating officer and Americas chief, tapping a man formerly considered an ally and potential successor of Nissan Motor Co Ltd’s ousted Chairman Carlos Ghosn.
The appointment comes at time when plunging sales in both China and the United States, the world’s two-biggest auto markets, has prompted a major management overhaul. In the U.S., Hyundai is also the subject of a regulatory investigation into the timeliness of vehicle recalls involving defective engines.It also comes as Munoz’s former boss at Nissan sits in a Tokyo jail awaiting trial for financial misconduct.
At his new employer, 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. “Hyundai needs to change, but it is changing too fast, which could lead to internal conflicts and communication problems,” said Lee Hang-koo, a senior research fellow at the Korea Institute for Industrial Economics & Trade.“If the Ghosn scandal is not resolved well, the appointment could adversely affect the company’s image and lead to doubts about Chung’s personnel management capability,” he said.
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