AutoBeta(AutoBeta.net)04/22 Report--

According to Los Angeles sources, former Nissan COO Jose Muroz will become Hyundai CEO and will also serve as chief executive of North America.

Jose Murloz has been on leave since Nissan CEO Carlos Ghosn was arrested last year by the Tokyo local police for malfeasance and embezzlement, and analysts say the appointment has broad implications for the South Korean carmaker as it seeks to boost sales and profitability in key US markets.

Jose Muroz abruptly resigned as chief performance officer in mid-January when the Japanese carmaker was engulfed by a scandal involving Carlos Ghosn, the jailed former Nissan chairman. Jose Muroz, an important deputy to Ghosn, promised to cooperate with the investigation into the financial transactions of his former boss.

The new executive will begin arriving at Hyundai's headquarters in Southern California on May 1st, where the leading economy car brand is gaining a foothold in the US market with a range of new SUV models. The brand's market share has been declining for years, in part because of overlapping product lines. Total u.s. sales of Hyundai and Lawns are up 2% this year, while the overall market is down 3.2%. Dealers are satisfied with the current product lineup and hope that the increase in sales will not be at the expense of profits.

Jose Muroz told Automotive News at the New York Auto Show last week that he was committed to maintaining a good relationship with dealers in his new position.

"I think those who have worked closely with me know that we will work with our dealers first. I think it's part of modern culture. " "when you cooperate with a dealer, it is to ensure that you provide better service and better products to your customers. So, obviously, we have to work together. "

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