Image Source: Harrison Keely, CC BY 4.0, via Wikimedia Commons
Hyundai Motor India Limited (HMIL) has announced the elevation of Mr. Tarun Garg to the role of Managing Director and Chief Executive Officer (MD & CEO), effective January 01, 2026, subject to the approval of shareholders.
This appointment marks a highly significant milestone in HMIL’s 29-year history, as Mr. Garg becomes the first Indian national to assume this top leadership position within the company.
The move reflects strong confidence by Hyundai Motor Company (HMC) in India’s leadership capabilities and the nation’s increasing strategic importance within the global automotive industry.
Mr. Garg, who currently serves as the Whole-time Director & COO of HMIL, was identified for this position by HMC and has worked closely with global management over the past two years in preparation for this elevation.
Following a smooth transition, the incumbent Managing Director, Mr. Unsoo Kim, will return to a strategic role at HMC, South Korea.
Mr. Garg brings more than 32 years of extensive industry experience, characterized by a proven track record in driving growth, innovation, and operational excellence.
His deep expertise encompasses crucial areas such as sales, marketing, distribution, financial management, product strategy, and brand communication.
Investors will note his formidable achievements during his tenure, including leading HMIL to achieve record sales for three consecutive years and delivering record-breaking profits. Furthermore, under his guidance as COO, HMIL recorded its highest EBITDA margin in FY24.
Notably, Mr. Garg was the Chief Orchestrator of HMIL’s Initial Public Offering (IPO) in 2024, which became the largest public offering in the history of the Indian equity markets.
His sharp focus on profitability, sustainability, and customer experience has been instrumental in positioning HMIL at the forefront of the SUV segment leadership.
Commenting on this landmark decision, Mr. José Muñoz, President & CEO of HMC, described Mr. Garg as a “transformative leader” who combines a progressive vision with a deep understanding of the Indian market. Mr. Muñoz added that Mr. Garg is a “people-first leader” who contributed to HMIL’s largest IPO in 2024.
Upon his elevation, Mr. Garg stated that India’s automotive sector is in an exciting phase of transformation.
His strategic focus as MD and CEO will be concentrated on four key pillars: Future Strategy Focussed, Market & People Centered, Customer Orientation, and providing further Impetus to Make in India initiatives.
These pillars aim to strengthen the brand’s legacy, champion unparalleled customer satisfaction, and establish India as a global export hub while developing next-generation mobility solutions.
Mr. Garg, who joined HMIL in 2019, previously held an illustrious career at Maruti Suzuki India Limited (MSIL).
His strong professional experience is complemented by his academic foundation, which includes a Mechanical Engineering degree from Delhi Technological University and an MBA from the Indian Institute of Management (IIM) Lucknow.
This announcement was part of a Press Release issued by Hyundai Motor India Limited to the stock exchanges, including the National Stock Exchange of India Limited and BSE Limited.
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