Mercedes-Benz India Ltd (MBIL) announced today that it has appointed Martin Schwenk as the new Managing Director and CEO of the company, effective 1 November, 2018. Schwenk will replace Roland Folger, who will assume a new position for Mercedes-Benz’s Thailand and Vietnam markets. Schwenk currently holds the position of CFO at Beijing Mercedes-Benz Sales Service Co Ltd.
Schwenk has an Engineering degree from the University of Stuttgart, and began his career at Daimler in 1992, through the Mercedes-Benz Trainee Program. Since then he has taken various important positions in Finance and Controlling in several locations, including Germany, South Africa, Austria and US. In September, 2015, Schwenk joined the Mercedes-Benz Sales Organization in China as CFO. With his professional insights and strategic direction, he played a leading role on the progress of many critical projects and business processes, MBIL noted.
Under the leadership of Folger over the last three years, MBIL has witnessed significant growth rates achieving the highest market share in the luxury car segment, the company noted. He is said to have played a key role in formulating growth strategies including market introductions of key products, qualitative network expansion, and creation of the Vehicle Preparation Centre.