Hisashi Takeuchi appointed as MD -; CEO of Maruti Suzuki; stock slips ~1%

24 Mar 2022 , 01:40 PM

The Board of Directors of Maruti Suzuki India Limited, in its meeting held today, informed the investors of the appointment of Mr. Hisashi Takeuchi as the Managing Director and Chief Executive Officer effective from April 1, 2022, consequent to the completion of the term of Mr. Kenichi Ayukawa on 31st March 2022, subject to the shareholders’ approval.

Mr. Kenichi Ayukawa will continue as a Whole-time Director designated as Executive Vice Chairman till 30th September 2022, to facilitate a smooth transition, and will continue to provide his valuable guidance to the Company.

Speaking on the transition, Mr. Ayukawa commented “India is one of the most captivating and promising automobile markets in the world and it has been both a challenging and a fulfilling stint during my work here. Mr. Takeuchi holds an impressive understanding of the Indian as well as international markets and can lead Maruti Suzuki into the future. I wish him a successful journey ahead.”

Mr. Takeuchi joined Suzuki Motor Corporation (SMC) in 1986. With vast experience in the international operations at SMC as well as in overseas markets, he has been on the Board of Maruti Suzuki since July 2019 and as Joint Managing Director (Commercial) since April 2021.

Mr. Ayukawa filled up the position of Managing Director of Maruti Suzuki India Limited in April 2013.

Maruti Suzuki is currently trading at Rs7,585.35 down by Rs58.45 or 0.76% from its previous closing of Rs7,643.80 on the BSE. It touched day’s high and low of Rs7,651.55 and Rs7,529.15 respectively.