TNI || New Delhi || 27th Nov. 2021
Hinduja Group’s flagship company Ashok Leyland, which is the leading commercial vehicle maker in India, has some shocking news to share.
Its Chairman and CEO, Vipin Sondhi, has stepped down due to his personal commitments. The board, meanwhile, has requested Dheeraj Hinduja, the group chairman, to take over the position of executive chairman with immediate effect.
It is well to be noted that Sondhi was appointed as the MD & CEO in December 2019 for a tenure of five years.
As per a BSE filing by Ashok Leyland, Vipin Sondhi expressed his intention to give more time to take care of personal commitments, which require his extended presence in New Delhi, and hence will step down from his position w.e.f Dec 31.
Board has extended its support to him and respects his decision to move on. The filing further said that the board will meet shortly to identify the next MD and CEO.
Dheeraj Hinduja, the group chairman, said that he would like to place on record Sondhi’s significant contribution to Ashok Leyland by seeding firm actions due to disruptions caused by COVID-19.
Vipin Sondhi, on this sudden development, said that he considers leading Ashok Leyland as an honor and that his decision to quit is purely a personal one.