Nissan accelerates business transformation & prepares roadmap for India, announces appointment of new Managing Director

· Saurabh Vatsa appointed Managing Director effective April 01, 2024

· Rakesh Srivastava, current Managing Director retires effective March 31, 2024

Gurugram, March 21, 2024: Nissan Motor India, today announced the appointment of Saurabh Vatsa as Managing Director (MD) of the company effective April 01, 2024. Earlier this year, Saurabh Vatsa was appointed as Deputy Managing Director by the company 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 succeeds incumbent Managing Director Rakesh Srivastava who retires this year on March 31, 2024. Under the stewardship of Rakesh, the brand saw the introduction of the bestseller Nissan Magnite B-SUV in India. The Nissan Magnite since introduction in 2020 has achieved cumulative domestic sales of over 100,000 SUVs 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. The company thanks Rakesh for his contributions and leadership of the brand wishing him the very best for the next phase of his career.

Frank Torres, President, Nissan India Operations said, “Rakesh has been a key member of our India leadership team. 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 MTP and enter FY24.”

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.”

Nissan had committed to invest INR 5300 CR (600 MN USD) 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.