New Delhi, Mar 21 (PTI) Nissan Motor India on Thursday said it has appointed Saurabh Vatsa as Managing Director effective April 1, 2024.

Vatsa was appointed as the company's Deputy Managing Director on January 15 this year.

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Vatsa will report to Frank Torres, President of Nissan India Operations and Region Divisional Vice President of Business Transformation (AMIEO), the automaker said in a statement.

He succeeds Rakesh Srivastava who retires on March 31, 2024. "As we transition into a new phase of the transformation plan for India, we are assured of having an experienced and insightful leader in Saurabh Vatsa. He will build on the foundation laid by Rakesh and spearhead our next phase of growth," Torres stated.

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Nissan has committed to invest Rs 5,300 crore in India as part of the Renault-Nissan Alliance and introduce more products for the Indian consumer as part of the transformation plan in 2023.

These changes underpin the business transformation plan and product pipeline the brand has prepared for India.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)