Similarly, Swapnesh R Maru, presently serving as Executive Vice President and Chief Compliance Officer, has been elevated as Deputy Managing Director Corporate Planning, Finance and Administration and Manufacturing, it added.
The changes effective January 1, 2024, are intended to further strengthen the company’s operations by accelerating the transition towards a future-ready organisation, thus reinforcing the country’s growing significance within Toyota’s global business landscape, the statement said.
In his new role, Asazuma will be responsible for the overseeing of sales, service and used car functions of Toyota and Lexus. He joined Toyota Motor Corporation in 2001 and moved to TKM in 2019. He brings with him a rich global automobile industry experience of working for Toyota in Japan and regions like the Middle East, the company said.
Maru, in his new role, will be steering the manufacturing function in addition to overseeing finance and administration function and corporate planning to align and capitalise the region’s growth potential and TKM’s growing importance in the global marketplace, the statement said.
He had previously handled functions such as sales, accounting, finance and taxation, legal, information technology, human resources, and corporate planning both in India as well as at global and regional offices. He has over 25 years of experience. “These changes come at a crucial time when India is increasingly becoming a vital market in Toyota’s global strategy and are designed to support and achieve sustainable growth for the company by enhancing capabilities and creating a future-ready organisation,” TKM MD and CEO, and Toyota Motor Corporation (TMC) Regional CEO Masakazu Yoshimura said. Last year in December, Toyota Motor Corporation had announced a regional restructuring with India being integrated into its ‘Middle East, East Asia & Oceania Region’ operations and slotting the country to act as the hub of the new geography.
As part of the development, Yoshimura, MD and CEO of Toyota Kirloskar Motor (TKM) — the company’s joint venture in India with the Kirloskar group — was concurrently made the Regional CEO, Toyota Motor Corporation (TMC).