PL Stock Update - Maruti Suzuki appoints new CFO with rich experience in managing large corporations

PL Stock Update – Maruti Suzuki – Himanshu Singh – Research Analyst, Prabhudas Lilladher Pvt Ltd

Maruti Suzuki appoints new CFO with rich experience in managing large corporations.

[Maruti Suzuki | MSIL IN | TP: INR 11,100 | BUY]

Maruti Suzuki has appointed Mr. Arnab Roy, as the new Chief Financial Officer. Mr. Arnab will assume responsibilities starting as the CFO – Designate w.e.f. 16th October, 2023 and full-time CFO of the Company with effect from 01st January, 2024. Mr. Arnab has a diverse professional background, having worked in several top-tier multinational companies, including Schneider Electric, G4S Corporate, GE, Covidien, Herbalife, Genpact, and The Timken Company. His experience ranges from building strong teams, mergers and acquisitions, supply chain, human resources management, among others. He has at his most recent role worked as the Zonal CFO - Greater India & as CFO of Schneider Electric India which comprises 10 legal entities, 30 manufacturing locations, and a business size of around EUR2.5bn.

Maruti Suzuki also announced intentions to consider stock split as per shareholder’s requests and plans to invest Rs. 450bn (USD5.4bn) to double its annual production capacity to 4mn vehicles by 2031.

PL View:

The appointment of Mr. Arnab Roy as the new CFO with his diverse and extensive experience with an impressive professional journey spanning 25 years, is a positive development for Maruti, in our view. His vast experience and expertise in managing operations of large multinational corporations will be crucial in steering Maruti Suzuki towards a path of sustained growth and success as it seeks to strengthen its position in the evolving automotive landscape.