Nissan Motor India has officially announced a significant leadership transition with Saurabh Vatsa stepping in as the company’s new Managing Director (MD) on April 1, 2024. This strategic move comes as the current MD, Rakesh Srivastava, is set to retire on March 31, 2024. Vatsa, who earlier joined the team as Deputy Managing Director on January 15, 2024, is poised to report to Frank Torres, President of Nissan India Operations and Region Divisional Vice President of Business Transformation (AMIEO), in his new capacity.
Under Srivastava’s stewardship, Nissan Motor India witnessed the successful launch of the Nissan Magnite compact SUV, a pivotal model that significantly contributed to the brand’s sustainability in the Indian market. Since its introduction in 2020, the Magnite has seen over 1 lakh units sold domestically as of February 2024. The model’s success, alongside the brand’s remarkable achievements, including the Global Nissan President Award for Project Magnite in 2020 and for the Nissan India Business Transformation Plan in 2022, underscore Srivastava’s impactful leadership.
Frank Torres praised Srivastava’s dedication and leadership, stating, “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 business operations.” He further expressed confidence in Vatsa’s capabilities to drive Nissan’s future growth, emphasizing the seamless transition towards achieving the brand’s mid-term plan (MTP) and objectives for FY24.
Saurabh Vatsa shared his enthusiasm about his new role, emphasizing the exciting phase of growth plans for Nissan 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 of the MTP which includes a new product portfolio and enhanced customer centricity,” said Vatsa.
Srivastava leaves behind a legacy of over two and a half decades of extensive experience in the automotive industry. Before his tenure at Nissan Motor India, he contributed significantly to companies such as Maruti Suzuki, Hyundai Motor India, and JSW Group. His strategic focus on sales and marketing played a crucial role in navigating the company through challenging times, especially during the COVID-19 pandemic, with the successful launch and sustenance of the Magnite SUV.
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