Tata Motors Limited on 29 September 2014 appointed Mayank Pareek as president of Passenger Vehicle Division.
Mayank Pareek will join the company on 1 October 2014. He succeeded Ranjit Yadav. Ranjit Yadav will now head the international business for passenger and commercial vehicles.
Also, Pareek will be part of the steering committee formed by the Cyprus Mistry to run the operations in the absence of a managing director. Cyprus Mistry is the CEO of Tata Motors.
Mayank Pareek is a former Chief Operating Officer (COO) of Maruti Suzuki India Limited. He quit the company on 26 September 2014.
He is entrusted with the task of reviving the fortunes of Tata Motor’s beleaguered car business. Tata motors is the largest vehicle maker of India.
Pareek is joining Tata Motors at a time when the company has been ceding ground to rival car makers.
In the last five months to August 2013, Tata Motors’ passenger vehicle sales declined 33% to 58697 units from 88709 units a year ago. Its market share dropped to 5% from 9% a year ago in the same period.
Pareek would have to prove his capability in a very short span of time. The 20-year Maruti veteran is credited with making the company a household name across the India.
Who: Tata Motors Limited
When: 29 September 2014