Honda Siel Cars India announces New President & CEO

February 22, 2010 New Delhi

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New Delhi, February 22, 2010: Honda Siel Cars India Ltd. (HSCI), leading manufacturer of premium cars in India, announced that Takashi Nagai will become the fourth President & Chief Executive Officer of HSCI from 1st April 2010. He takes over from Masahiro Takedagawa who has served as HSCI's President & CEO for the past 5 years since assuming the position in April 2005.

Nagai, who is currently the Executive Vice President of Asian Honda Motor Co. Ltd. Thailand, will also assume the position of President & CEO of Honda Motor India Pvt. Ltd.

Masahiro Takedagawa moves to Honda Canada Inc. as President & Director after completing his tenure in India.  During the five years of Takedagawa’s leadership, HSCI witnessed rapid expansion from a production capacity of 30,000 units per annum in year 2005 to 100,000 units per annum in 2008 and commensurate increase in dealership network from 52 facilities in 41 cities (March 2005) to the current 117 facilities in 70 cities. The sales turnover of the company has more than doubled during his tenure from earlier Rs 2100 crore in 2004 - 05. Also under Takedagawa’s leadership, the company introduced its world best seller Honda Civic and Japan best seller Honda Jazz in the Indian market apart from the launch of latest generation of City, Accord and CR-V. The formation of Honda Motor India for strengthening and integrating spare parts operations of Honda companies in India was an outcome of Takedagawa's strong guidance, based on the belief that customer should be provided with swift delivery of spare parts for enhanced customer satisfaction.

Furthermore, Takedagawa enabled the company to set up its second manufacturing facility in Tapukara, Rajasthan where new manufacturing processes including setting up of press shop and powertrain shop enabled HSCI to localize critical components for its models.

Takedagawa has been associated with Honda Motor Co. for over 30 years and started his professional career with the company in the year 1979. He has vast experience in the automobile industry, having worked with Honda ventures in different markets, across the globe including US, Japan, Thailand and Italy. He took over as the President & CEO of Honda Siel Cars India Limited in April 2005. Within a year of his appointment as the head of Honda’s car operations in India, he was assigned charge as the Head of Honda’s overall operations in the entire South West Asia region. In the last few years, the company has strengthened its leadership position in the premium segment under his supervision.