José Muñoz, Hyundai Motor’s U.S. chief and global COO, became the first foreign national co-CEO at a South Korean conglomerate on Friday. The announcement comes with a host of other switch-ups in Hyundai’s ranks as it prepares for expected tariff hikes and EV subsidy cuts under the incoming Trump administration.

Hyundai Motor Co. named Jose Munoz as chief executive officer, making him the first foreigner to lead the South Korean automaker as it seeks to grow outside its home country.

Hyundai Motor Co. on Thursday named Jose Munoz as the next president and CEO of the South Korean automaker, effective Jan. 1.