Tata Motors appoints Mayank Pareek as president of passenger vehicles
Mayank Pareek, a name in the automobile industry usually associated with Maruti Suzuki, has been appointed as President, Passenger Vehicle Business Unit (PVBU) of Tata Motors with the effect from October 1, 2014. Pareek will take over from Ranjit Yadav, who will now head the International Business for Passenger & Commercial vehicles.
Pareek will be responsible for steering the passenger vehicle business in Tata Motors. He will also be a member of the Corporate Steering Committee. As president, Pareek has a big responsibility to turn around the company especially in terms of domestic sales. Tata Motors is still experiencing a tough time in the domestic market with sales of passenger vehicles for August 2014 at 10,975 units, lower by 5 per cent compared to the 11,564 vehicles sold in August 2013. Sales of passenger cars in August 2014 were 8,229 units, lower by 6 per cent over 8,761 vehicles sold in August 2013. With the launch of the Zest compact sedan and the Bolt hatchback in the pipeline, Tata Motors is expecting positive sales figures in coming months under new leadership.
A known face in Maruti Suzuki, Pareek spent over two decades in the Indo-Japanese company and was the Chief Operating Officer before he resigned earlier this month. He was heading the marketing and sales vertical that included domestic marketing and sales, dealer and product development, used car business, outbound logistics, spare parts and accessories, after market services and international marketing and sales. There were reports regarding his move to Tata Motors soon after his exit from Maruti Suzuki.
A post graduate Diploma in Business Management from Indian Institute of Management, Bangalore and a Bachelor of Engineering Degree from Indian Institute of Technology, BHU, Pareek started his career in 1982 with BHEL, working in the manufacturing function, after which he joined Maruti Udyog in 1991. He was responsible for sales in North India and subsequently managed dealer development. He also led new strategic initiatives like leasing, financing and, the used car business at Maruti Suzuki.
