Business Standard

Arnab Roy to be Maruti Suzuki's new CFO from January 1, Ajay Seth to retire

Ajay Seth, current CFO of the company, will step down from his post on December 31 on account of superannuation

Maruti Suzuki

BS Web Team New Delhi

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Arnab Roy will be its new chief financial officer (CFO) of Maruti Suzuki India Ltd (MSIL) from January 1, India's largest automaker announced on Tuesday. He will be the CFO-designate from October 16 and will take the role of whole-time CFO on January 1.

Ajay Seth, the current CFO of the company, will step down from his post on December 31 on account of superannuation.

An MBA from IIM Bangalore, Roy serves as director in around over 12+ Schneider companies. According to the company, he partners "with the CEO in running the business including evaluating commercial aspers of business decision and regulatory implications".

"He has in-depth working experience in domestic & international taxation and transfer pricing. Along with Finance, he has experience of handling the Sales, HR Admin & IT vertical," it added.

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In January 2022, he was appointed as the zone CFO for the Greater India region, covering all Schneider businesses with a business span of around Rs 22,000 crore.

"He has been involved in analysing value chains, designing distributor footprints, evaluating channel partners and deciding on optimum channel strategy," the company added.

Earlier, the company told Business Standard that it is planning to nearly double its dispatches through railways in the next three years.

MSIL had transported 335,000 units through railways in 2022-23 (FY23). That was 18 per cent of the total cars transported. In FY22, the company had transported 223,000 units by rail. MSIL will develop railway sidings at its production facilities in Manesar in Haryana and Hansalpur in Gujarat, Rahul Bharti, executive officer (corporate affairs) of MSIL said.

MSIL has to transport its cars by road to the railway stations — the ones nearest its production facilities — where they are loaded in railway wagons.

Also Read: Succession at Reliance: A large family fortune starts a risky transition

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First Published: Aug 29 2023 | 1:07 PM IST

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