Date:07/05/2005 URL: http://www.thehindubusinessline.com/2005/05/07/stories/2005050702470100.htm

Back Khattar re-appointed MD for 3 more years

Our Bureau

THE board of directors of Maruti Udyog Ltd on Friday decided to re-appoint Mr Jagdish Khattar, 62, as Managing Director for a period of three years or till he attains the age of 65, whichever is earlier.

Mr Khattar's existing term is due to end on May 29, 2005.

Mr Khattar had taken over the reins of Maruti Udyog in 1999 when the company was feeling the heat of competition from global car majors.

One of his biggest achievements has been Maruti's successful entry into new service businesses, including car finance, car insurance and sale and purchase of pre-owned cars.

These have also created new revenue streams for the company's dealerships.

Mr Khattar is also currently President of the Society of Indian Automobile Manufacturers (SIAM).

The next couple of years would be strategically important for Maruti with the company, along with its parent Suzuki Motor Corporation, making an investment of Rs 3,271.9 crore for developing a new car manufacturing plant and new engine and transmission plant in Haryana.