The Board of Directors of Maruti Suzuki India Limited (MSIL) today approved new appointments to the top management of the company.
Mr. Jagdish Khattar will retire as Managing Director on December 18, 2007 on attaining the age of 65 years, in accordance with company rules.
Mr. R. C. Bhargava, who is currently Director of MSIL, will assume charge as Chairman.
Mr. S. Nakanishi, who is currently Chairman of MSIL and Senior Managing Executive Officer in Suzuki Motor Corporation (SMC), will succeed Mr. Khattar as Managing Director.
Mr. T Kobayashi, currently Senior Managing Director of MSIL, will leave as Board member with effect from December 31, 2007. Mr. T Ohashi, currently Executive Director of MSIL, will replace him on the Board and be in charge of Production.
Mr. M Osada, currently Director (R & D) of MSIL, will leave as Board member with effect from December 31, 2007. Mr. T Hasuike, currently Managing Executive Officer in SMC, will replace him on the Board. Mr. Hasuike will be in charge of Product Planning and Technical Divisions.
The Board also discussed and approved a plan for enabling more Indian managers to reach Top Management positions.
The Board appreciated the contribution by Mr. Jagdish Khattar in steering the company and strengthening its leadership position in the face of intense competition since 1999.