Nissan Motor India recently announced that it has appointed Saurabh Vatsa as the company's new Managing Director (MD), effective April 1, 2024. He will succeed current MD Rakesh Srivastava, who is retiring on March 31, 2024. Vatsa was previously named as Deputy Managing Director of the firm on January 15. Following his elevation to the post of Managing Director, Saurabh Vatsa will now report to Frank Torres, president, Nissan India Operations and Region Divisional Vice President of Business Transformation (AMIEO).
Sharing his thoughts on his new role, Saurabh Vatsa said, “I am excited to be part of Nissan at this crucial juncture of our growth plans in India. India presents a complex and challenging market, and Nissan, with its global brand stature, rich legacy, and cutting-edge technology is poised to deliver on this promise. We are constantly pushing the boundaries on ‘what’s next’ and our daring spirit of innovation is what sets us apart. We intend to deliver on the ongoing business transformation plan in preparation for the MTP which includes a new product portfolio and enhanced customer centricity.”
Meanwhile, the auto manufacturer wished Rakesh Srivastava all the best for the next chapter of his career and thanked him for his leadership of the brand. For a career spanning more than 35 years, Srivastava has worked for prestigious firms such as Maruti Suzuki, Hyundai Motor India, JSW Group, and Nissan Motor India for more than 25 of those years.
It is important to note that the Nissan Magnite compact SUV was introduced to the Indian market under his direction, and this model proved crucial to the Japanese company's ability to continue operating in India. As of February 2024, the Magnite had sold over one lakh units domestically since its launch in 2020. During his term, the firm also received the esteemed Global Nissan President Award for Project Magnite in 2020 and the Nissan India Business Transformation Plan in 2022.
Frank Torres Comments on the Latest Update from Nissan
Commenting on the occasion, Frank Torres remarked, “Rakesh has been a key member of our India leadership team. We thank Rakesh for his exceptional leadership, tenacity, and wisdom in leading the company through turbulent times including the COVID-19 pandemic while contributing to the turnaround of India's business operations. As we transition into a new phase of the transformation plan for India, we are assured of having an experienced and insightful leader in Saurabh Vatsa. He will build on the foundation laid by Rakesh and spearhead our next phase of growth as we prepare to deliver on the MTP and enter FY24.”
In 2023, Nissan committed to invest Rs 5,300 crore (USD 600 million) in India as part of the Alliance and launch additional products as part of the company's transformation plan.
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