Nissan Motor India elevates Saurabh Vatsa to MD position, Rakesh Srivastava retires on 31 March  

Nissan Motor India on Thursday announced the appointment of Saurabh Vatsa as Managing Director (MD) of the company effective April 01, 2024. Vatsa succeeds current MD Rakesh Srivastava who retires this year on March 31, 2024.

Earlier this year, Saurabh Vatsa was appointed as Deputy Managing Director by the company on January 15. Upon elevation to the role of MD, Saurabh will report to Frank Torres, President, Nissan India Operations and Region Divisional Vice President of Business Transformation (AMIEO). 

Under the leadership of Srivastava, the brand saw the introduction of the bestseller Nissan Magnite B-SUV in India – which was a critical model in the sustenance of Indian operations.

The Nissan Magnite since its introduction in 2020 has achieved cumulative domestic sales of over 100,000 SUVs as of February 2024. The company has also won the prestigious Global Nissan President Award for Project Magnite in 2020 and for the Nissan India Business Transformation Plan in 2022 during his tenure.

Frank Torres, President, Nissan India Operations said Srivastava has been a key member of our India leadership team. "We thank Rakesh for his exceptional leadership,  tenacity, and wisdom in leading the company through turbulent times including the COVID 19 pandemic while contributing to the turnaround of India business operations." 

"As we transition into a new phase of the transformation plan for India, we are assured of having an experienced and insightful leader in Saurabh Vatsa. He will build on the  foundation laid by Rakesh and spearhead our next phase of growth as we prepare to deliver on the MTP and enter FY24,” added Torres. 

Commenting on his elevation, Saurabh Vatsa said, “I am excited to be part of Nissan at this crucial juncture of our growth plans in India. India presents a complex and challenging market, and Nissan, with its global brand stature, rich legacy, and cutting-edge technology is poised to deliver on this promise. We are constantly pushing the boundaries on ‘what’s next’ and our daring spirit of innovation is what sets us apart. We intend to deliver on the ongoing business transformation plan in preparation of the MTP which includes a new product portfolio and enhanced customer centricity.” 

In a career spanning over three and half decades, Srivastava has spent over two and half decades in the automotive industry, working for top companies like Maruti Suzuki, Hyundai Motor India, JSW Group and finally Nissan Motor India. It was his hard yards in sales marketing at Maruti Suzuki and Hyundai Motor that came in handy, as his current company had to undergo a tumultuous time of covid-19 with just one model. He had to rationalise workforce, network and yet ensured that the Magnite SUV was successful, which ensured the sustenance of the Nissan brand in India.

Nissan had committed to invest Rs 5300 crore ($600 million) in India as part of the Alliance and introduce more products for the Indian consumer as part of the transformation plan in 2023. These changes underpin the business transformation plan and product pipeline the brand has prepared for India.

Nissan Motor India Private Ltd. (NMIPL) incorporated in 2010 is a 100 percent subsidiary of Nissan Motor Co. Ltd. Japan, serving both the domestic and export markets with a manufacturing plant and R&D Centre in Chennai. Nissan with its Global Alliance partner Renault has made an investment of $1.8 billion in the Indian economy facilitating over 70,000 direct and indirect employment and skilling opportunities.