The board of Maruti Suzuki India Ltd has reappointed Kenichi Ayukawa as the managing director and chief executive officer (CEO) of the company for the third straight time, and he will handle the company for next three years now.
The decision of reappointment of Japanese national Kenichi Ayukawa as CEO was made by Maruti Suzuki board of directors on Wednesday, after his second term for the lead role is about to end with the onset of new financial year. As per official information, Ayukawa has been appointed with the existing terms and conditions including his remuneration. The regulatory filing also suggests that Kenichi will take over the responsibilities as Managing Director and CEO of Maruti Suzuki India from April 1, 2019 for next three years.
Ayukawa was first appointed to head Maruti Suzuki in 2013, when India’s largest passenger vehicle manufacturer was reeling with labour-related crises and market volume losses due to the increase in diesel vehicle sales in India. But under his leadership, the company’s financials revived significantly, they recaptured 50% market share in Indian automobile sector and are currently valued at ₹10,000 stock rate mark.
It was also under Kenichi Ayukawa’s tenure when the company transitioned from manufacturing just small hatchback cars to introducing crossovers, sedans and even hybrid SUVs. Maruti Suzuki also introduced the premium Nexa dealerships, cataloguing new modern automobiles like e Baleno (a hatchback), Ciaz (a mid-size sedan) and S-Cross (a crossover).
In a different filing, the board has also reportedly approved MoU between parent company Suzuki Motor Corp. and Toyota Motor Corp. to get the Toyota Hybrid System; and also manufacture the Vitara Brezza by Toyota Kirloskar Motor (TKM) at its own Bengaluru facility in early 2022. Through the partnership, both companies are looking forward to expand not just in India, but in Europe and the entire world.