Mayank Pareek quits as Maruti Suzuki marketing chief
NEW DELHI: Mayank Pareek, the sales chief of India’s largest carmaker Maruti SuzukiBSE -0.37 % has put in his papers after serving the company for more than two decades.
Known among the automobile fraternity as the face of Maruti Suzuki, Pareek has served the carmaker for more than two decades at a time when its market share peaked to its highest for the past five years. According to people in the knowledge of he is likely to remain part of the automotive industry and may reveal his plans shortly. The reasons for the Pareek’s departure is not clear, but unconfirmed talks surfaced shortly after, that he might be headed to rival carmaker Tata Motors.
Pareek could not be reached for comment. However, a senior company official confirmed the news of his resignation. Another official, said Pareek is leaving for “better prospects.” Pareek is credited with spearheading the carmaker’s drive into the rural markets and the success of many Maruti Suzuki products.
Rumours of Pareek’s resignation did the rounds even during the Auto Expo, held in February, this year. It was vehemently denied by the company then. Maruti Suzuki, in recent months has witnessed a senior management rejig with the Japanese parent Suzuki Motors Corporation tightening its hold on several critical functions, including human resources activities. The company’s top management rejig came after a year-long labour trouble at its Manesar plants during the year 2011-12.
The rejig in April, this year saw three senior chief operating officers (COOs) being asked to share responsibilities with Japanese expatriates from Suzuki.
The rejig came soon after a labour strike that saw an outbreak of violence on July 18, 2012, causing injuries to 96 executives and the death of one manager. Three executives, SY Siddiqui in charge of (human resources, legal affairs, finance, administration, and information technology), MM Singh (production) S Maitra (supply chain) were made chief mentors without direct executive role in the company.
During the same time, Mayank Pareek who was then the COO of marketing & sales was promoted and re-designated as senior executive officer for the same departments. With the changes, Maruti Suzuki had scrapped COO’s designation and started nomenclature of senior executive officer or executive officer and vice presidents.