Mumbai, India – Alliance Tire Group has hired Nitin Mantri, an executive with experience in the heavy-equipment industry, to be its CEO, assuming those duties from ATG Director and CEO Yogesh Mahansaria.
Mantri brings 23-plus years of global experience in general management, operations, business development and strategic planning to his new job.
Most recently he was general manager for fuel systems at Cummins Inc., a producer of heavy-duty diesel engines. He joined ATG a few months ago as CEO-designate and has worked with Mahansaria since to prepare for the transition.
Prior to joining Cummins, Mantri worked in the Atlanta office of Boston Consulting Group, where he developed business strategies for Fortune 500 companies, according to Alliance. He has also worked at Comau-Pico, a division of Fiat S.p.A., in Detroit and at Bharat Forge in Pune, India, where he started his career as a manufacturing engineer.
"Our ambition is to become a $1 billion (€910,000) company by 2020," Mantri said. Fiscal 2016 sales were just over $500 million, according to ATG.
"We plan to strengthen our position as the global leader in off-highway tires by continuing our focus on providing the best value tire to our customer, while improving our quality to world class levels by leveraging expertise from our new owners Yokohama Rubber," he said.
Mansharia, who headed up an investors' group that bought Alliance Tire in 2007 from its previous owners, is expected to leave the company, which itself was acquired last year by Yokohama Rubber Co. Ltd.
Prior to that, he was part of senior management at India's Balkrishna Tires Ltd.