BMW Group appoints Ms. Ritu Chandy as Regional CEO of BMW Group Financial Services for Asia Pacific
Singapore. - BMW Group has appointed Ms. Ritu Chandy as the Regional Chief Executive Officer of Financial Services for its Asia Pacific operations effective 1 July 2018. Ms. Chandy is based in Singapore and replaces Mr. Serge Naudin, who has relocated to China as President, BMW Group Financial Services, Region China. Ms. Chandy is responsible for the Financial Services business across seven countries in the Asia Pacific region – Australia, New Zealand, India, Japan, Malaysia, South Korea and Thailand – as well as the strategic partnerships in Indonesia, Singapore and Vietnam.
Ms. Chandy, who holds an Executive MBA from the University of Chicago Booth School of Business, has been working with the BMW Group since 2001. Beginning her career in Australia, she has held a variety of senior leadership positions across the Asia Pacific region and North America over the past 17 years.
Prior to her new appointment, Ms. Chandy served as Chief Financial Officer and Vice President of Finance, BMW Group, Financial Services, North America from 2014 – 2018 where she was responsible for the financial oversight and development of all Financial Services Companies of the Americas Region.
From 2010 – 2014 Ms. Chandy was based in Singapore and was Head of Treasury for Asia Pacific where she led teams based in Singapore and Beijing, responsible for Foreign Exchange, Interest Rate Risk and Debt Funding across BMW Group operations in the region.
BMW Group Financial Services operates subsidiaries and runs partnerships with local financial services providers and importers in every continent in 58 markets around the world. With more than 8,600 associates it is one of the leading financial services companies in the automotive sector.
The BMW Group
With its four brands BMW, MINI, Rolls-Royce and BMW Motorrad, the BMW Group is the world’s leading premium manufacturer of automobiles and motorcycles and also provides premium financial and mobility services. The BMW Group production network comprises 30 production and assembly facilities in 14 countries; the company has a global sales network in more than 140 countries.
In 2017, the BMW Group sold over 2,463,500 passenger vehicles and more than 164,000 motorcycles worldwide. As of 31 December 2016, the BMW Group had a workforce of 124,729 employees.
The success of the BMW Group has always been based on long-term thinking and responsible action. The company has therefore established ecological and social sustainability throughout the value chain, comprehensive product responsibility and a clear commitment to conserving resources as an integral part of its strategy.
BMW Group Thailand
BMW Group Thailand, a subsidiary of BMW AG, Germany, was established on the 3rd October 1998. The three entities of BMW Group Thailand include BMW (Thailand) Co., Ltd. with responsibility for wholesales & marketing of BMW Group products, BMW Manufacturing (Thailand) Co., Ltd. with responsibility for BMW and BMW Motorrad local production, and BMW Leasing (Thailand) Co., Ltd. with responsibility for financial services offerings to both wholesale and retail customers.
In 2017, BMW Group Thailand achieved a historic sales record with 11,030 BMW and MINI vehicles delivered to customers from January to December 2017, an increase of 39% year-on-year and the first-ever 5-digit sales figure in the company’s history. BMW Motorrad also had the best-ever record with 2,001 motorcycle deliveries, 10% higher than the same period the previous year. These milestones have made 2017 the most successful 12-month period for all of BMW Group Thailand’s three business units – with BMW Thailand in particular posting the highest growth rate across BMW Group’s global network at 43%.
On the production side, the BMW Group Manufacturing Thailand plant was founded on BMW Group’s strong belief in the growth potential of Asian markets and Thailand in particular with its unique location, strong manufacturing base, and ready supply of skilled automotive labour, making it an automotive hub for ASEAN.
On-going investment has been put into the expansion of plant Rayong in terms of assembling processes, aiming to meet growing customer demand. In addition, with approximately 4 billion Thai Baht representing the amount of annual purchasing in Thailand, the BMW Global Purchasing office has been established in Thailand. This is to source various components from local suppliers in Thailand and the broader ASEAN region, in order to supply the entire BMW production network of 31 production and assembly facilities, located in 14 countries worldwide.
As of 2017, BMW Group Manufacturing Thailand produces the following 17 models: BMW 1 Series, BMW 3 Series, BMW 3 Series Gran Turismo, BMW 5 Series, BMW 7 Series, BMW X1, BMW X3, BMW X4 and BMW X5. For BMW Motorrad the BMW F 800 R, BMW F 800 GS, BMW F 700 GS, BMW R 1200 GS, BMW R 1200 GS Adventure, BMW S 1000 R, BMW S 1000 RR and BMW S 1000 XR are also locally assembled at the plant. In addition, BMW Group Manufacturing Thailand now assembles four BMW plug-in hybrid models; BMW 330e, BMW 530e, BMW X5 xDrive40e and BMW 740Le.
Starting from May 2016, BMW Group Manufacturing Thailand’s assembly line capability has been expanded for the purpose of exporting the BMW X3 and BMW X5 to China as well.
For further information, please contact:
BMW Group Thailand
1-800-269-269
www.bmw.co.th
www.mini.co.th
www.bmw-motorrad.co.th
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