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Maruti Suzuki COO Mayank Pareek quits ahead of Ciaz launch

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Mayank Pareek
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Mayank Pareek, chief operating officer (sales & marketing), Maruti Suzuki is on his way out from India's biggest carmaker.

According to sources familiar with the development, Pareek, who has been part of Maruti Suzuki since 1991, has decided to move on.

"Pareek has been delegating his responsibilities to others for the past 10-12 days now. He also did not participate in the recently held SIAM (Society of Indian Automobile Manufacturers) convention held in Delhi last week," said a person familiar with the development.

Another industry source, confirmed the development, but refused to divulge any details.

Pareek did not respond to a text message, while Maruti Suzuki spokesperson refused to provide any comment.

Pareek's resignation comes close to the launch of company's premium sedan Ciaz, which is slated for October. The company is also gearing up to enter the light commercial vehicle segment.

"This is a critical time for Maruti Suzuki as the competition from international players is increasing. Companies are increasing capacities and launching more products. Pareek's expertise would have helped Maruti Suzuki in maintaining its leadership," said an industry expert, who refused to quoted.

Companies like Hyundai Motor India, Honda Cars India and Ford India are currently investing heavily in India and have lined up important launches in the compact segment.

"The Japanese hold within the company has been increasing lately. That could be one of the triggers for Pareek to exit the company," said a source.

More exits could be in pipeline, a source added.

Details of Pareek's next assignment is not known yet.

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