Osamu Suzuki, a resourceful leader who guided Suzuki Motor in Japan for over four decades and played a significant role in transforming India’s auto market into a thriving industry, has passed away at the age of 94.
He passed away on December 25 due to lymphoma, as announced by the company. Suzuki ambitiously steered the company, known for its minivehicles, during his tenure as either CEO or chairman, expanding beyond Japan’s primary market. The company’s inexpensive, boxy 660-cc cars, which were specific to Japan and benefited from tax breaks, required strict cost control measures that became integral to the automaker’s identity.
Despite his legendary reputation for thriftiness, Suzuki was known to cut costs wherever possible, such as lowering factory ceilings to reduce air-conditioning expenses and opting for economy class flights, even in his later years. His witty responses to questions about his longevity at the company, often jokingly stating “Forever” or “until the day I die,” reflected his unwavering dedication to Suzuki Motor well into his 70s and 80s.
Born as Osamu Matsuda, Suzuki adopted his wife’s family name due to the tradition in Japanese families without a male heir. Starting as a banker, he joined the company founded by his wife’s grandfather in 1958 and steadily rose through the ranks to become president two decades later.
In the 1970s, Suzuki orchestrated a turnaround for the company by securing engines from Toyota Motor to meet new emissions standards, which Suzuki Motor had not yet developed. This success continued with the launch of the popular Alto minivehicle in 1979, enhancing the company’s standing and leading to a partnership with General Motors in 1981.
One of Suzuki’s notable decisions was to invest a significant portion of the company’s earnings to establish a national car manufacturer in India. Motivated by his ambition to excel globally, Suzuki aimed to make an impact in a market where he saw potential for growth.
During a time when India’s automotive industry was nascent, Suzuki’s collaboration with Maruti proved to be a game-changer. Despite initial setbacks in finding a foreign partner, Suzuki’s persistence paid off as Maruti Suzuki emerged as a dominant player in India’s car market, with Suzuki Motor holding a majority stake.
Suzuki’s legacy extended beyond business success, as he introduced progressive workplace reforms in India, promoting equality by implementing open-plan offices, a shared canteen, and uniforms for all employees regardless of their roles.
In his late 70s, Suzuki finalized a significant partnership with Volkswagen in 2009, but the high hopes for the collaboration eventually faltered. Nevertheless, Suzuki’s visionary leadership and indelible contributions continue to shape Suzuki Motor’s legacy in the automotive industry.
To exercise authority over it, VW opposed the Japanese company’s procurement of diesel engines from Fiat. Suzuki Motor initiated legal action against VW in an international arbitration court within a short span of less than two years, ultimately securing the repurchase of the 19.9% stake it had previously sold to the German automaker. Suzuki, a proponent of golf and diligent work as fundamental components of his well-being, eventually relinquished his position as CEO to his son Toshihiro in 2016. He then assumed the role of chairman for an additional five years until reaching the age of 91, maintaining an advisory capacity until his retirement. In the year 2016, Suzuki Motor intensified its partnership with Toyota, the world’s largest car manufacturer, following Toyota’s acquisition of a 5% share in Suzuki Motor in 2019. Maruti Suzuki is slated to provide electric vehicles for Toyota starting next year. Reflecting on Suzuki’s legacy, Toyota chairman Akio Toyoda expressed profound admiration for Suzuki, likening him to a father figure and recognizing his pioneering contributions to the minivehicle industry. Toyoda lauded Suzuki as a trailblazer for kei cars, instrumental in transforming them into the quintessential people’s car in Japan. For more CNN news and updates, register for an account at CNN.com.
