The Hindu : Business : B V R Subbu bids adieu to HMIL

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Saturday, Mar 25, 2006

Business

Business

B V R Subbu bids adieu to HMIL

Special Correspondent

He leaves the company after it turned out the millionth car

B V R Subbu

CHENNAI: Come April, B V R Subbu will no longer be with Hyundai Motor India Ltd. (HMIL). He will step down as President of HMIL on March 31, 2006 at the end of his term.

This follows his decision not to renew his contract with the company. Mr. Subbu has been with the company since its inception in 1996.

"I step down from the post of President, Hyundai Motor India, at the end of my term of office effective from March 31, 2006. I leave Hyundai with a sense of satisfaction at having helped to create and nurture a truly world class organisation of exceptional promise. I am confident that a strong foundation has been laid at Hyundai to fully support its future growth plans in line with the Chairman M. K. Chung's vision for the group,'' Mr. Subbu said in a signed release.

The release also contained a signed statement from Heung Soo Lheem, Managing Director. While acknowledging the contribution made by Mr. Subbu, the statement termed his stepping down from office an `irreparable loss.'

Often, Mr. Subbu told this correspondent that he would move out of HMIL after ten years of service or once the company churned out one million cars, which ever came first. Hyundai Motor India only last week rolled out its millionth car from the Irrungattukottai assembly line.

Mr. Subbu told The Hindu that he had not thought of his options post-Hyundai. "Until I finish the contract, I don't want to think of it,'' he said.

To a question, he, however, said, "I should play the role of a strategist or venture capitalist."

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