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Suzuki Motor Corporation (SMC) has elevated Maruti Suzuki India (MSI) head Kenichi Ayukawa as Executive Vice President with effect from July 1, 2017.
Ayukawa, who is currently designated as Senior Managing Officer and MD and CEO of Maruti Suzuki India, has now been designated as Executive Vice President and Managing Director and CEO, Maruti Suzuki India, SMC said in a statement.
Ayukawa joined as MD & CEO of MSI in 2012. In his tenure MSI's market share in the passenger vehicle segment has grown from around 38 per cent in 2012 to over 47 per cent currently.
Under his leadership, MSI made inroads into new segments where the company was not present or had limited presence.
Various marketing initiatives, including start of premium retail chain Nexa and launch of various new models including Baleno, Vitara Brezza, Ciaz and S-Cross took place under Ayukawa's leadership.
MSI, which currently accounts for 40 per cent of SMC's total sales, is expected to increase the share to 60 per cent by 2020.
Suzuki currently holds 56.21 per cent stake in MSI.
Last year SMC announced to launch around 15 new models in India over the next five years to aid its arm Maruti Suzuki achieve target of selling two million units annually by 2020.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)