New Delhi: Maruti Suzuki India Ltd Managing Director Jagdish Khattar, who is to retire in December this year, is expected to be offered a fresh term when Suzuki Motor Co’s President Osamu Suzuki visits India tomorrow, but the former bureaucrat may finally call it a day after a 14-year stint with the country’s biggest carmaker.
Suzuki, who is expected to chair MSIL’s Board meeting to discuss second quarter results, would take a call on Khattar’s term renewal on Monday and is likely to offer him a fresh contract for at least one year, sources told PTI.
Although the Japanese parent was insisting to continue with Khattar, sources said he, however, wanted to part ways to pursue different career interests.
“SMC is almost certain to offer him (Khattar) an extension, but he is not willing to continue, so the post may go to present chairman Shinzo Nakanishi,” sources said.
An MSIL official neither confirmed nor denied Osamu Suzuki’s visit to India.
Khattar, an IAS officer, joined Maruti in July 1993 as director (marketing) and went on to become executive director (marketing) in the next six years.
In 1999, he was promoted as joint managing director. The year saw various disagreements between SMC and the government, which were joint shareholders in the company at that time. Both the partners agreed to appoint their nominee as CEO and MD of Maruti for a three-year term, following which Khattar was appointed to the post as a government nominee.
In 2002, when it was SMC’s turn to appoint MD, they renamed Khattar as their nominee. His second term as MD began in May 2002 which was supposed to last till the age of 65 years or end-2007, whichever was earlier.