Japanese auto giant Suzuki Motor Corporation proposes to effect top level changes in Maruti management, a year after it took control over India's largest car maker, by inducting some fresh faces while re-assigning work to others.
Suzuki, which holds 54 per cent stake in Maruti Udyog Ltd, has informed MUL in a recent letter that it proposes to induct J Sugimori as joint managing director. Sugimoro will assume charge of finance, human resources, information technology and corporate services.
The appointments are, however, subject to approval by the Board of Directors and shareholders, it added.
In its draft prospectus posted on the website of Securities and Exchange Board of India, pursuant to its upcoming public offer of shares in June, Maruti has said Suzuki would also seek resignation of Y Nakamura, currently joint managing director of MUL.
Nakamura will return to Suzuki to take up a fresh assignment there, it said.
Amongst the other changes proposed are the appointment of S Takeuchi as JMD in charge of production engineering, supply chain and engineering. Takeuchi will replace Nakamura.
The Japanese car maker had acquired majority stake in the company last year following a Rs 400 crore (Rs 4 billion) rights issue, which sold for a premium of Rs 1000 crore (Rs 10 billion).
The government, which currently holds 44 per cent stake, proposes to shed as much as 25 per cent equity through a public offering of shares.
Following the takeover of Maruti last year, Suzuki had made some high level changes by re-appointing Jagdish Khattar as the managing director and proposing the name of M Osada as the head of the engineering division.
H Totsuka has been proposed for appointment as plant manager.
Sebi had on Thursday announced it had cleared draft prospectus for IPO, days after BSE and NSE gave their consent for the same.
