Hinduja flagship Ashok Leyland today announced that Vipin Sondhi, Managing Director and CEO, is stepping down from his responsibilities as Managing Director and CEO with effect from 31 December 2021.
According to a press release from the company, Sondhi
has expressed his intention to devote more time to take care of certain personal and family commitments in the post-COVID pandemic situation, which requires his extended presence in New Delhi and therefore, he is stepping down.
Respecting his personal reasons, the Board has extended its support and agreed to his decision to move on. Sondhi will fully support and facilitate a smooth management transition, the release said.
To assist in business continuity and a seamless transition, the Board has requested Dheeraj Hinduja to step in as executive chairman immediately. The Board will meet shortly to decide on further action for identifying the next CEO and MD.
Dheeraj Hinduja, Chairman, Ashok Leyland, said, “I would like to place on record Vipin’s significant contribution in Ashok Leyland navigating the disruption caused by the COVID-19 pandemic and seeding firm actions to pursue our vision. 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.”
Vipin Sondhi, CEO & MD, Ashok Leyland, said, “My decision is purely a personal one as I need to take care of my personal and family responsibilities, which have become a top priority. Working with the Hinduja family and the leadership team at Ashok Leyland has been an enriching experience. 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.”