Ashok Leyland's UK arm Optare's CEO steps down

Hariharan Krishnamurthi is the interim CEO

Ashok Leyland’s UK arm Optare PLC’s chief executive officer (CEO) Enrico Vassallo has decided to step down from the company. In the interim period Hariharan Krishnamurthi, chief financial officer, has been appointed as the Chair to the Senior Management Team.

After two years, Vassallo has decided to move on and pursue other career opportunities, said Optare.

Enrico has led the business through challenging and demanding times over the past two years and has been instrumental in making the necessary changes, including the recruitment of a new Senior Management Team, which has provided Optare with the foundations for a stronger future, said the company.

In the interim period Hariharan Krishnamurthi, CFO, has been appointed as the Chair to the Senior Management Team. He will report to T Venkataraman, Head of Global Bus at AshokLeyland and Non Executive Director of Optare.

John Fickling, Non Executive Chairman, said: ‘During a turbulent time in the bus industry, Enrico has led the company with considerable passion, enthusiasm and dedication,” he said.

Ashok Leyland acquired minority stake in Optare in 2010 as part of its plan to become one of the top 10 business companies in the World. Later the company increased its stake and now Ashok Leyland is the majority shareholder.

Optare specialise in electric bus and ALL also hopeful that Optare would help the company with future technology access, including hybrid.