SEOUL -- Hyundai Motor Co. is entrusting its reins to a non-Korean CEO in an unprecedented move for a South Korean conglomerate, with an eye on growth and potential risks in its critical North American operations.
Chief Operating Officer Jose Munoz, a native of Spain and a U.S. citizen, will become president and CEO on Jan. 1 under plans announced last week. Munoz will be the first foreign national to serve as president at one of South Korea's chaebol conglomerates, where founding families still hold sway.
