Hinduja Automotive Ltd, the holding firm of commercial vehicles major Ashok Leyland, today announced that its Executive Vice-Chairman V Sumantran will step down from his position and the board of directors, with effect from March 31.
He will, however, continue as an advisor to the Hinduja group, while he pursues his interests in academia, research and consulting, Ashok Leyland said in a filing to the BSE.
Commenting on the development, Hinduja Automotive Co-Chairman Dheeraj Hinduja said: "Sumantran has played a key role in expanding Ashok Leyland's product range and new businesses and in creating a strong partnership with Nissan."
Sumantran said it was a suitable time for him to step down to pursue his interests as the company has established its presence in the light commercial vehicles (LCV) segment successfully.
"When I joined the board, getting Ashok Leyland into the LCV business was a major objective. Now, with the launch of Partner and Mitr, we have seen completion of the first phase of our cooperation with Nissan."
The company's board, which met today, also appointed Vinod K Dasari as the Managing Director of the company for a further period of three years with effect from April 1, 2014, subject to the approval of the shareholders.
