Pakistan’s automotive industry has seen some very steady growth and development over the past few years and months, three new automakers are getting ready to set up shop locally, and many more are soon to follow, Pak Suzuki has moved forward on making the necessary changes in order to stay competitive within the market, and in light of that it was announced just today that the board of directors at Pak Suzuki have just appointed Musafumi Harano as the brand new Chief Executive Officer (CEO) of the company. Prior to this Harano was head of overseas automobile marketing in Southeast Asia and North America, in addition to being head of the companies auto product planning department in Hamamstsu, Japan. Suzuki issued a statement following the press release of their new CEO stating.
The appointment of the new CEO is a strategic move, (in reference to the local automotive sector) witnessing a phase of expansion and growth“.
Pakistan’s automotive industry is set to experience an exponential demand for cars in the near future, coupled with the increasing competition of current competitors as well as the new entrants that are set to introduce themselves into the industry soon, Current predictions foresee a revamp in the strategy that Pak Suzuki currently applies within the local market, specifically in its investment strategy. Pak Suzuki Company Limited (PSMC) is currently planning to pour in an investment of $460 million into the expansion of its production facilities and relevant operations in order to prepare for the increase in demand set to take place within the next three to five years. In recent news, the company achieved a benchmark profit of PKR 1 billion in the first quarter of 2017, and their plans for expansion are set to help that number grow even further.
The current CEO of Pak Suzuki Hirofumi Nago will step down from his position, and take on the role of Senior Advisory Director within the company, Nago took helm of the company all the way back in 2008, and is still considered a great asset to the company as he is attributed to be the leading cause behind the high profits Pak Suzuki has been seeing in recent years within the local market. The company also appointed Shigeo Takezawa as a director of the company, he and Musafumi Harano are set to replace two current directors named Tetsuya Fujiko and Minoru Amano within the board of directors are Pak Suzuki.