Maruti Names Arnab Roy As CFO-Designate; Ajay Seth To Retire

Maruti Suzuki India Ltd. said its board appointed Arnab Roy as chief financial officer-designate with effect from 16 October.

Roy will become whole-time CFO, effective 1 January 2024, following the retirement of current CFO Ajay Seth on 31 December, India's largest carmaker said in a stock exchange announcement. Seth will remain a member of the executive board after his retirement, it added.

Maruti said since January 2022, Roy is serving as Zone CFO for Greater India region at Schneider Electric, covering all its businesses. He has over 26 years of experience with the US, British and French multinational companies, handling all aspects of finance and accounts, it added.

During his career, Roy has successfully handled mergers and acquisitions as well as other growth initiatives like contract manufacturing, licensing and working with investment bankers on potential acquisition opportunities, Maruti said.

He has also been involved in analyzing value chains, designing distributor footprints, evaluating channel partners and deciding on optimum channel strategy, it noted.

The company said Roy has in depth working experience in domestic and international taxation and transfer pricing, as well as experience of handling sales, human resources admin and IT vertical.

Roy earned his Bachelor’s Degree in Economics, Statistics and Maths from Ranchi University and further pursued Chartered Accountancy and Cost Accountancy, according to the statement. He also holds an Executive MBA from IIM Bangalore, it said.

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