Saurabh Vatsa will replace Rakesh Srivastava from April 1 onwards.
Nissan Motor India has announced the appointment of Saurabh Vatsa as managing director (MD) of the company effective April 1, 2024. Vatsa succeeds current MD, Rakesh Srivastava, who retires this year on March 31, 2024. Earlier this year, Saurabh Vatsa was appointed as deputy managing director on January 15. Upon elevation to the role of MD, Saurabh will report to Frank Torres, president, Nissan India Operations and Region Divisional Vice President of Business Transformation (AMIEO).
- Saurabh Vatsa elevated from deputy managing director to MD
- Srivastava has spent over two and half decades in the automotive industry
- Nissan has committed to invest Rs 5,300 crore in India
Under the leadership of Srivastava, the brand saw the introduction of the Nissan Magnite compact SUV in India; a critical model in the sustenance of the Japanese brand’s Indian operations. Since its introduction in 2020, the Magnite has achieved cumulative domestic sales of over 1 lakh units as of February 2024. The company has also won the prestigious Global Nissan President Award for Project Magnite in 2020, and for the Nissan India Business Transformation Plan in 2022 during his tenure.
Frank Torres, president, Nissan India Operations said that Srivastava has been a key member of the brand’s India leadership team. He added, “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.”
“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 mid-term plan (MTP) and enter FY24,” added Torres.
Commenting on his elevation, 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 of the MTP which includes a new product portfolio and enhanced customer centricity.”
In a career spanning over three and half decades, Srivastava has spent over two and half decades in the automotive industry, working for top companies like Maruti Suzuki, Hyundai Motor India, JSW Group and finally Nissan Motor India. It was his hard yards in sales and marketing at Maruti Suzuki and Hyundai Motor that came in handy, as his current company had to undergo a tumultuous time of COVID-19 with just one model. He had to rationalise workforce, network and yet ensure that the Magnite SUV was successful, which ensured the sustenance of the Nissan brand in India.
Nissan had committed to invest Rs 5,300 crore (USD 600 million) in India as part of the Alliance and introduce more products for the Indian consumer as part of the transformation plan in 2023. These changes underpin the business transformation plan and product pipeline the brand has prepared for India.
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