BVR Subbu resigns as Hyundai India President

New Delhi, Mar 24 (UNI) Hyundai Motors India (HMI) President B V R Subbu today parted ways with the company he had been instrumental in establishing as the second-biggest carmaker in the country.

Subbu had been with Hyundai since its inception in India.

The resignation comes just days before Subbu's contract was to come up for renewal on March 31.

''Subbu would be stepping down from the company at the end of his term on March 31,'' Hyundai managing director Heung Soo Lheem said in a statement.

Describing Subbu's exit as an irreparable loss, the Korean carmaker said, Hyundai acknowledges BVR Subbu's immense contribution from its very inception to the millionth car rolled out recently.

However, Hyundai kept silent on who would be succeeding Subbu.

Subbu is largely acknowledged with making Hyundai and its various models - Santro and Accent - huge successes. Over the years, he had risen through the ranks to head the Indian subsidiary.

His recent initiatives being an investment of 600 million dollars to more than double the production capacity to 6,00,000 units by 2007.

UNI SR SS KN1808