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Mercedes-Benz India appoints Martin Schwenk as Managing Director & CEO

Martin Schwenk will take the new responsibility of heading Mercedes-Benz India from 1st November 2018.

News18.com

Updated:July 9, 2018, 6:48 PM IST
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Mercedes-Benz India appoints Martin Schwenk as Managing Director & CEO
Mercedes-Benz logo. (Image: AFP Relaxnews)
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India’s largest luxury car maker Mercedes-Benz has announced the appointment of Martin Schwenk as the new Managing Director and CEO of its India operations effective from 1st November 2018. Martin Schwenk will replace Roland Folger, who will assume a new position for Mercedes-Benz’s Thailand & Vietnam markets. In the last three years under the leadership of Roland Folger, Mercedes-Benz India has witnessed significant growth rates achieving the highest market share in the luxury car segment. Roland Folger played a key role in formulating the brand's growth strategy that includes market introductions of key products like the roll-out of the E-Class Long Wheelbase, qualitative expansion of the network footprint, and also the creation of the Vehicle Preparation Centre.

Roland Folger, Managing Director & CEO, Mercedes-Benz India commented, “My India stint will remain memorable with rich experiences and fond memories. The warmth of our customers and people, the diversity of the country’s culture, and the unique business opportunities and challenges that this market presents, is enormous and truly enriching. I am very satisfied with Mercedes-Benz India’s strong leadership position in the market and our relentless efforts in creating a new benchmark in customer delight. I am thoroughly convinced that the Star will achieve new heights with the new leadership of Martin Schwenk.”

Martin Schwenk, currently the Chief Financial Officer of Beijing Mercedes-Benz Sales Service Co. Ltd. in China stated, “Having worked across in different countries and functions, I am extremely excited for my forthcoming responsibility to head the dynamic India market. India’s rich cultural diversity, the young population, the diverse customs, different languages and topography together with its importance as a future economic powerhouse; makes it a compelling market to grow the business. It is a privileged opportunity for me to head the business of the most iconic and successful luxury motoring brand, in one of the most vibrant markets in the region. With my experience across various business divisions, I am looking forward to pursuing the ‘Indian story’ further and make the foundation of Mercedes-Benz even stronger in India. We have a fantastic winning team comprising our people and investors with proven records, and I am eager to be part of this winning team.”

Martin Schwenk who will take the new responsibility of heading Mercedes-Benz India from 1st November 2018 has an Engineering degree from the University of Stuttgart and started his career at Daimler in 1992, through the Mercedes-Benz Trainee Program. Afterwards, he has taken various important positions in Finance and Controlling in several locations, including Germany, South Africa, Austria and the United States. In September 2015, Martin joined the Mercedes-Benz Sales Organization in China as the Chief Financial Officer. With his professional insights and strategic direction, he played a leading role on the progress of many critical projects and business processes and proved himself indispensable in safeguarding the sustainable success of MB passenger car business in China.
| Edited by: Manav Sinha
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