Rakesh Srivastava, the man behind Hyundai’s India success story, quits

NEW DELHI, AUG 1: The man behind the success story of Hyundai Motor India Limited, Rakesh Srivastava, Director- Marketing and Sales, resigned from the company on Wednesday.

It is believed that he will join BMW India Group as Managing Director, but neither Srivastava nor HMIL has confirmed this.

“There is nothing like that. I seek many opportunities at many places. Before joining Hyundai six years back also, I had four offers in hand. You should pursue as many opportunities as possible,” Srivastava told BusinessLine over the phone.

He said he has seen the company grow from 3.65 lakh sales six years back to 5.55 lakh units now and the company is ‘strongly poised in the market’.

Asked if it was a sudden move or it was planned, he said: “I should have continued for as many years as possible, but you should plan your career very well. I will seek opportunities outside now.”

Srivastava said he resigned and he will be serving notice period as per the company norms. However, sources from the company said it is his last day too in the office.

HMIL confirmed his resignation saying he has ‘decided to pursue other interests outside the organisation’. He joined the company as Vice President and served for six years.

“Our association with Srivastava has been mutually enriching. He has immensely contributed through the years, leading the company to stay ahead. We wish him the very best in future endeavors,” Y K Koo, Managing Director and Chief Executive Officer, HMIL said in a company statement.

BMW India has neither denied nor confirmed Srivastava joining the company.

(Except for the headline, this story has not been edited by The Kashmir Monitor staff and is published from a syndicated feed.)