Osamu Suzuki, patriarch and longtime chairman of Suzuki Motor Corp., who has been posthumously awarded the Padma Vibhushan, led the company for more than 40 years and revolutionized India’s car market with the introduction of the popular Maruti 800 car. Brought it.
Osamu Suzuki is among seven personalities who were honored with the Padma Vibhushan, one of the country’s highest civilian honours, on Saturday.
Osamu Suzuki, who died in late December last year at the age of 94, shared a good rapport with Prime Minister Narendra Modi.
According to PM Modi, Osamu Suzuki was a legendary figure in the global automotive industry.
“His visionary work reframed global perceptions of mobility. Under his leadership, Suzuki Motor Corporation became a global powerhouse, successfully navigating challenges, driving innovation and expansion. He felt deeply for India and his collaboration with Maruti revolutionized the Indian automobile market,” the Prime Minister had posted on the social media platform.
A former bank employee, Osamu Suzuki got his break into the automotive business in 1909 after marrying Shoko Suzuki, the granddaughter of Michio Suzuki, who founded Suzuki Motor’s predecessor company. Osamu Suzuki took his wife’s surname when there are no male heirs, according to Japanese custom.
Their entry into India turned out to be a game-changer, as a market the size of the subcontinent, saddled with the technology ambassadors and Fiat cars of the 60s, increased the demand for the Maruti 800 small car. The waiting list of customers continued to grow for three years with cars commanding a premium on the second-hand market.
Suzuki Motor agreed to set up a venture with the Indian government outside New Delhi and acquired a 26 percent stake in state-owned carmaker Maruti Udyog in 1982. In December 1983, the enterprise rolled out the Maruti 800 small car which was a hit.
Maruti, now a unit of Suzuki Motor, quickly became the largest carmaker in India and still has over 40 percent market share.
Osamu Suzuki’s more than 28 years as president make him the longest-serving head of a global automaker. After stepping down as President in 2000, he became Chairman and Chief Executive Officer of Suzuki Motor. He returned as president in December 2008 at the age of 78, when Suzuki Motor was expected to post its first profit decline in eight years, having to lead from the front amid a global recession.
Suzuki passed the presidency to his son in June 2015 and took over as chairman and CEO, but then resigned as CEO over an embarrassing fuel-economy misstep.
Suzuki was a man of Spartan habits and was known to fly economy class even into his old age as part of his frugal lifestyle.
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