Mayank Pareek quits Maruti, may join Tata Motors
In a major senior-level change, the head of marketing and sales at India's largest passenger car maker Maruti Suzuki, Mayank Pareek, has quit the company after over two decades in the firm. It is widely speculated in the industry that he is set to join Tata Motors, which is scouting for a managing director after the untimely death of Karl Slym in January this year.
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Pareek's departure is the second top-level exit at Maruti this year after Sudam Maitra, who was the in-charge of supply chain.
His exit also comes barely a fortnight before the upcoming launch of Maruti's executive sedan, the Ciaz, on October 1. Spokespersons at Maruti and Tata refused to comment, while Pareek could not be contacted.
"I cannot confirm for sure but I am told he put in his papers on Monday evening," a senior executive at Maruti told HT.
Indian executives face a glass ceiling at Suzuki-controlled Maruti. The two chief executives since the government exited the company, have been Japanese. This is cited as one reason why Pareek may have moved on.
Pareek was instrumental in maintaining Maruti's leadership position in the fiercely competitive domestic passenger vehicle segment. In the five months to August this year, Maruti's sales have grown nearly 30%, more than double the pace of the industry, which grew by 12.5%.
He is touted to be replaced as the head of marketing and sales by Shashank Srivastava, who is currently the executive officer for exports.
Earlier this year, in a major reshuffle Maruti had sidelined three top level executives including M M Singh, chief operating officer (COO) production, S Y Siddiqui, COO, HR and administration apart from Maitra.