Eicher Motors rejigs top-level mgmt

Eicher Motors today announced a change in top level management with Chief Financial Officer Vinod Aggarwal stepping down after taking over as the CEO of the firm's commercial vehicle joint venture with Volvo.

"Consequent to Vinod Aggarwal taking over as Chief Executive Officer of VE Commercial Vehicles, he has relinquished the position of Chief Financial Officer of the company," Eicher Motors (EML) said in a filing on the Bombay Stock Exchange.

Lalit Malik has been appointed as the Chief Financial Officer of the company, it added.

VE Commercial Vehicles (VECV) is a 50-50 joint venture between the Volvo Group and EML. It has been in operation since July 2008.

It comprises manufacturing of the complete range of Eicher trucks and buses; Eicher's components and engineering design services businesses as well as the sales and distribution business of Volvo trucks within India.

The filing by EML said the board of directors in its meeting held on November 8, 2010 has approved the appointment of R L Ravichandran as an Additional Director of the company with effect from January 1, 2011.