The latest development in the Indian car industry was the surprise resignation of Rajesh Jejurikar, Mahindra & Mahindra's Chief Executive for the Automotive Division. The reports of resignation were confirmed by company officials, who said Rajesh Jejurikar is moving to another challenging assignment in a different industry after his successful stint in the car industry for over 11 years. During this time span, he had also held the position of Managing Director of Mahindra Renault Private Limited.
Rajesh Jejurikar, 47, began his career in packaged goods industry and later moved on to the advertising sector. He got a break in automobile sector in 2000, when he joined Mahindra & Mahindra as the chief of domestic operations. This surprising decision came at a time when the automaker launched new products, such as Mahindra XUV 500 and revived Bolero, in the urban market. The top official will continue to serve the company till January-end before handing over duties to his successor.
According to rumours, Jejurikar will join Zee Entertainment Enterprises Limited (ZEEL) as the company’s President. He will be working alongside existing Chief Execution Officer (CEO) and Managing Director, Punit Goenka. However, Rajesh Jejurikar did not make any statement on his next move and forthcoming plans. Besides, he did not respond to the reason for his exit from Mahindra, one of the most respected automakers in India. As of now, the automaker is yet to decide on the successor of the influential leader.
During his tenure, Mahindra & Mahindra Limited, an integral part of the US $12.5 billion Mahindra Group, did exceptionally well. For instance, the automaker confirmed sales growth of 20 per cent in October 2011 as compared to the same time in the previous year. The 4-wheeler commercial segment, in conjunction with passenger and load categories, recorded a phenomenal growth of 41 per cent in the month of October.
He leaves the company at a commanding position, which has grown from strength to strength to become largest utility vehicle maker of India. With launches like Scorpio SUV in 2002 to the premium XUV 500 in 2011, his term was full of milestones. He played a vital role in turning around the sales of the Renault Logan and providing a steady start to the French automaker in India.
The surprise decision by Jejurikar has become the topic of discussion in Indian automobile industry. Before joining Mahindra & Mahindra, Jejurikar moved out from the fast moving consumer goods (FMCG) company Marico in a similar manner after becoming an integral part of the core team that created brands like Parachute and Saffola.
