BVR Subbu resigns as the chief of Hyundai India

BVR Subbu resigns as the chief of Hyundai India

BVR Subbu who was serving as the President of car major Hyundai Motors India Ltd has submit his resignation from the company’s Indian top post. Anyways, his contract was set to expire on March 31.

Subbu put in his papers and resigned just when the company had embarked on a major expansion drive in India. Hyundai has plans to invest as much as 600 million dollars to scale up production capacity to 6,00,000 units by 2007 from the current levels of 2,80,000 units.

Subbu said in a statement: “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 Motor India with a sense of satisfaction at having helped to create and nurture a truly world-class organization of exceptional promise.”

Hyundai India Managing Director HS Lheem said that the company would miss the leadership of Subbu and would look towards him for “professional guidance and support” for the future.