With effect from January 1, 2024, Maruti Suzuki India Ltd has named Arnab Roy as its Chief Financial Officer (CFO), the nation’s largest automaker announced in a filing with the stock market today.
Arnab Roy will join the firm as CFO-designate with effect from October 16, 2023, and as a full-time CFO of the company from January 2024, according to the company’s exchange filing.
The firm has announced that Ajay Seth, its current CFO, will retire from his position as a full-time CFO as of the close of business on December 31, 2023. He continued to be a member of the executive board (MEB) after that.
With more than 26 years of experience working with US, British, and French multinational firms in every aspect of finance and accounting, Arnab is a seasoned professional.
Since January 2022, he has served as the Zone CFO for the Greater India Region, managing all Schneider enterprises with a total annual turnover of approximately 22,000 crores.
“The appointment of Arnab Roy as the new CFO with his diverse and extensive experience with an impressive professional journey spanning 25 years, is a positive development for Maruti, in our view. His vast experience and expertise in managing operations of large multinational corporations will be crucial in steering Maruti Suzuki towards a path of sustained growth and success as it seeks to strengthen its position in the evolving automotive landscape,” said Himanshu Singh – Research Analyst, Prabhudas Lilladher Pvt Ltd.
According to the company’s exchange filing, he is the manager of a financial team in charge of more than 200 people in the Greater India Region as well as shared services. He also has directorships in more than 12 Schneider Companies, including one that is publicly traded.
As Country and Business Unit CFO, he has spent the last 17 years collaborating with the CEO to manage the business, including determining the financial and regulatory ramifications of various business choices.
