Rakesh Sharma is the new chief executive officer (CEO) of Bajaj Auto’s international business.
Will be heading the international business
MUMBAI: Rakesh Sharma is the new chief executive officer (CEO) of Bajaj Auto’s international business.
He takes over from executive director Sanjiv Bajaj, who will now focus on the new consumer finance and insurance businesses, post-demerger.
As per the new system announced recently, Sanjiv would look at new business opportunities and leave the auto business to sibling Rajiv.
With Sharma at the helm of international business, the last functional block is now in place.
The 45-year-old Sharma has served ICI Paints across the Association of South East Asian Nation (Asean) region.
“The fact that he has a non-automotive background is hardly relevant, since his insight on the durables industry is what actually matters. Also, he has been a business head with tremendous global experience,” industry sources said.
At ICI Paints, Sharma was CEO, decorative paints, and has worked in Vietnam and Thailand. The geographies in his background are important since Bajaj is looking at increasing its market penetration in those markets.
It will soon set up a facility in Indonesia where its 180cc Pulsar is, at present, assembled and sold.
Bajaj also has big plans for Nigeria, Iran and Latin America to boost its export business.
Bajaj Auto is already India’s largest exporter of two-wheelers and managing director Rajiv Bajaj has reiterated that the international business will play a big role in the coming years. Exports accounted for Rs 1,700 crore of turnover last fiscal and the target for 2007-08 is Rs 2,400 crore.
Sharma’s induction is part of an organisational restructuring in the auto business, where five strategic business units were created with separate chiefs.
Today, S Sridhar is CEO of the two-wheeler business while Pradeep Srivastava will take charge of engineering and Abraham Joseph R&D.
R C Maheshwari, who was earlier with Eicher, is the CEO of the commercial vehicle business (a new plant is being commissioned in Chakan for this purpose).
The international business slot was the last to be filled in.
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