Maruti Suzuki India appoints Schneider's executive Arnab Roy as CFO

Roy to take charge as CFO from January 1, 2024

Maruti Suzuki India (MSIL) on Tuesday appointed Arnab Roy, who is currently Zone Chief Financial Officer (CFO) for the Greater India Region covering all Schneider businesses, as its Chief Financial Officer with effect from January 1, 2024.

Schneider is a French energy management and digital automation company. MSIL informed the Bombay Stock Exchange (BSE) that Roy — who has over 26 years of experience — will be appointed as CFO-Designate with effect from October 16 and as a wholetime CFO from January 1. MSIL's current CFO, Ajay Seth, will retire on December 31.

"He has been serving as country and business unit CFO for the last 17 years, partnering with the CEO in running the business, including evaluating the commercial aspects of business decisions and regulatory implications. He has in-depth working experience in domestic and international taxation and transfer pricing. Along with finance, he has experience of handling the sales, human resources administration and IT vertical," MSIL noted.

Himanshu Singh, research analyst at Prabhudas Lilladher, said the appointment of Roy as the new CFO, with his diverse and extensive experience and an impressive professional journey spanning 25 years, is a positive development for Maruti, in his view. "His vast experience and expertise in managing operations of large multinational corporations will be crucial in steering Maruti Suzuki towards a path of sustained growth and success as it seeks to strengthen its position in the evolving automotive landscape," Singh added.

Since January 2022, Roy has been serving Schneider as Zone Chief Financial Officer for the Greater India Region, covering all Schneider businesses with a business span of around Rs 22,000 crore. "He serves as director in around 12-plus Schneider companies, including a listed entity from a governance standpoint, and leads a Finance Team of around 200+ people in the Greater India Region plus shared services," MSIL noted.