Maruti Suzuki India, the country's largest carmaker, on Wednesday re-appointed Kenichi Ayukawa as Managing Director and CEO of the company for a period of three years.
"The company's board re-appointed Kenichi Ayukawa as Managing Director and CEO of the company for a period of 3 years with effective from April 1, 2019 on the existing terms and conditions including remuneration," Maruti Suzuki India said in a filing to the Bombay Stock Exchange.
This would be Kenichi Ayukawa's third three-year terms as MD and CEO of Maruti. Ayukawa, who earlier served in the US, Japan and Pakistan, was appointed as MD and CEO of Maruti on March 15, 2013. He played a major role in expanding the company's market share beyond 50 per cent.
During his regime, the auto major introduced many new models, including the sedan Ciaz, premium hatchback Baleno and SUV Vitara Brezza. The company is also gearing up to launch its first electric car in India by 2020, besides working on hybrid and premium category vehicles.
In a separate filing, the company said its board has approved the manufacturing of its compact SUV Vitara Brezza at existing Toyota Kirloskar Motor (TKM) plant starting 2022, which will save investment in new plant for the company. "Variants of this model will be sold through sales network of the Company and TKM respectively."
The board also gave nod to supply of product (derivative model of Baleno) to TKM, which is likely to result in incremental sales for the company.
"Toyota Hybrid System (THS) will be provided in future products of the company, which will help the Company to become a front runner of clean technology in mass market and help in sustainable development of Indian automotive industry," Maruti said in the exchange filing.
Japanese auto majors Suzuki Motor Corp and Toyota Motor Corp had signed agreement for supply of hybrid and other vehicles to each other, which would see Toyota sell Suzuki's India subsidiary Maruti's premium hatchback Baleno and compact SUV Vitara Brezza through its own subsidiary in India, while Maruti would get Toyota's global best selling model Corolla.
Edited by Chitranjan Kumar