Vipin Sondhi steps down as CEO of Ashok Leyland; cites 'personal reasons'

Dheeraj Hinduja, to assist in business continuity and ensure a seamless transition

Ashok Leyland, the flagship company of the Hinduja Group, announced on Friday that Vipin Sondhi has decided to step down from the post of managing director and chief executive officer of the company with effect from December 31, citing 'personal reasons'.

Dheeraj Hinduja, Chairman of the Chennai-based auto major has stepped in as the executive chairman of the company with immediate effect to assist in business continuity and to ensure a seamless transition. According to a statement by the company, Sondhi had expressed his intention to devote more time to take care of certain personal and family commitments in the post COVID pandemic situation, that require his extended presence in New Delhi. Sondhi took charge of the company on December 12, 2019 and was appointed for a term of five years till December 11, 2024.

The company said that the board extended its support to Sondhi's decision 'respecting his personal reasons'. Sondhi will support and facilitate a smooth management transition. The Board will meet shortly to decide on the further course of action for identifying the next CEO and MD.

“I consider it an honour 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 top priority," Sondhi said. He added that 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. 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 added.

Prior to joining Ashok Leyland, Sondhi was heading JCB lndia Ltd, where he spent over 13 years and was a member of JCB's global executive team. “I would like to place on record Vipin’s significant contribution in 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 endeavours”, Hinduja said.

He added “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.” Before Sondhi, Vinod Dasari was leading the company for 14 years first as a chief operating officer (COO) and then as the CEO, before stepping down in November 2018.