New Delhi: Ashok Leyland, the flagship of the Hinduja Group and India’s leading commercial vehicle manufacturer, on Friday informed the exchanges that Vipin Sondhi has stepped down as the company’s MD & CEO due to personal commitments. Meanwhile the Board has requested Dheeraj Hinduja, Chairman, Ashok Leyland, to step in as Executive Chairman with immediate effect.
Sondhi was appointed MD & CEO in December 2019, for a period of 5 years.
“Vipin Sondhi, Managing Director and CEO has expressed his intention to devote more time to take care of certain personal and family commitments in the post COVID pandemic situation, that requires his extended presence in New Delhi and consequently step down as Managing Director and CEO with effect from December 31, 2021. Respecting his personal reasons, the Board has extended its support and agreed to his decision to move on. Vipin Sondhi will fully support and facilitate a smooth management transition,” Ashok Leyland said in a BSE filing.
To assist in business continuity and a seamless transition, the Board has requested Dheeraj Hinduja to step in as Executive Chairman with immediate effect. The Board will meet shortly to decide on the further course of action for identifying the next CEO and MD~
“To assist in business continuity and a seamless transition, the Board has requested Dheeraj Hinduja to step in as Executive Chairman with immediate effect. The Board will meet shortly to decide on the further course of action for identifying the next CEO and MD,” the company said.
Sondhi joined the Hinduja Group in 2019 from JCB where he was the MD and CEO – India, South East Asia & Pacific and a member of the Global Executive Leadership Team. He was MD and CEO of JCB India for about 14 years associated closely with the transformation of JCB’s India portfolio into a leadership position by ushering in global standards of design, quality and manufacturing.
Prior to JCB, he had led Tecumseh India as the MD for about six years, while serving there for over 12 years. The initial 10 years of his career were shaped in Tata Steel and Shriram Honda. He is an alumnus of IIM, Ahmedabad and a Mechanical Engineer from IIT, Delhi.
Dheeraj Hinduja, Chairman, Ashok Leyland, remarked “I would like to place on record Vipin’s significant contribution to Ashok Leyland navigating the disruption caused by the Covid19 pandemic and seeding firm actions to pursue our Vision. We wish Vipin the very best in all his future endeavors”.
“We see a revival in domestic and international markets. I am confident that our new products and soon to be introduced alternate propulsion variants will trigger growth in volume and market share shortly,” he said.
Vipin Sondhi said, “I consider it an honor to have led this great organization. My decision is purely a personal one as I need to take care of my personal and family responsibilities, which have become a priority. Working with the Hinduja Family and the leadership team at Ashok Leyland has been an enriching experience.”
“That we have been able to meet all the challenges head-on despite the global pandemic and continue on our growth path has been very satisfying. I would like to thank the Board for its continuous support and my committed team across Ashok Leyland for their tireless work and co-operation to ensure that we move closer to our Vision to emerge as one of the top 10 CV makers in the world,” he said.