Toyota Kirloskar Motor Pvt Ltd (TKM) has announced a restructuring of its senior management team. As part of the new organizational hierarchy, which will come into effect from 1 January 2020
Industry veteran N Raja, who has been with TKM for the past seven years, will now play a larger role and assume the role of Managing Director, Toyota Financial Services India (subject to board approval), of the company. N Raja is currently the Deputy Managing Director for sales and marketing functions at TKM.
Raju. B. Ketkale is now promoted as the Deputy Managing Director for a newly formed function of manufacturing. He previously worked as Senior Vice President and Director at TKM, where he looked after product design and development and quality assurance.
The OEM has also promoted Naveen Soni as the Senior VP, Sales & Customer Service. Soni, who has been in the company for close to two decades, was previously VP, External Affairs, Corporate Social Responsibility & Public Relations at TKM.
Alongside, Vikram Gulati, who is the Country Head and VP, External Affairs in India, has now been promoted as senior VP and will be taking charge of External Affairs, Corporate Social Responsibility (CSR) and Public Relations.
Commenting on the announcement, Masakazu Yoshimura, MD, Toyota Kirloskar Motor, said, “In our efforts to achieve sustainable growth and enhance competitiveness, we are excited to announce the key structural changes within the company to strengthen operations and enhance focus on the growth of our workforce and the company. TKM takes pride to note the recognition of unwavering contributions of the Indian executives and the huge potential to handle new leadership roles. I am certain that our new team with their passionate leadership and strategic vision will steer the company to greater avenues.”
The company says the changes announced will boost the alignment of resources to achieve greater optimization and improve efficiency throughout operations.
Analysts see the move as a step to consolidate the business via strengthening the financing arm and thereby drive retail sales as the market prepares for anticipated price hikes under the incoming BS VI regime.
Last month, Toyota Financial Services India had launched a new service named ‘tatkal loan’ to fast track loans for the purchase of cars, offering approvals within thirty minutes. It said that customers can get a tatkal loan of up to 85% of the vehicle’s ex-showroom price.
