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.

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.