Hyundai's Arvind Saxena resigns, may join Volkswagen

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The country's second largest car maker Hyundai Motor India on Friday said its Director for Marketing and Sales Arvind Saxena has resigned from the firm.

Although Saxena's next move is not confirmed yet, sources close to the development said he is likely to join European car major Volkswagen's Indian operations.

"Hyundai Motor India Ltd (HMIL) today announces that Arvind Saxena, Director Marketing and Sales, has resigned from the company's services," the company said in a statement. He had joined the company as Vice President and served for seven years, it added.

Commenting on this move, HMIL Managing Director B.S. Seo said: "Our association with Saxena has been mutually enriching. He has guided the company through the years and helped the company stay ahead. We wish him the very best in his future endeavours."

Meanwhile, sources said Saxena, who will be in HMIL till July 27, is likely to join Volkswagen India.

"After Hyundai, Saxena will join Volkswagen's Indian operations. He is likely to head the Volkswagen brand in the country," a source said. No confirmation could be obtained from Volkswagen India's spokesperson.

Hyundai, which sells Eon, Santro, i10, i20, Accent among others, in India, reported a 3.49 per cent rise in sales in June at 54,354 units over the same month last year.

Volkswagen's sales declined marginally during the month at 5,371 units compared to 5,397 units a year ago.