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In a sudden development, leading truck and bus-maker Ashok Leyland has announced that its Managing Director & CEO, Vipin Sondhi, has resigned due to certain personal and family commitments.
Sondhi, who took charge in December 2019, will officially step down from the current post with effect from December 31.
“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 in a company communication.
The board has requested Dheeraj Hinduja to step in as Executive Chairman with immediate effect for business continuity and a seamless transition. The board will meet shortly to decide on the further course of action for identifying the next CEO and MD.
Sondhi’s period was marked by Covid-related disruptions and the struggle for recovery from the impact of the pandemic.
“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,” said Chairman Dheeraj Hinduja.
The Hinduja flagship has lost market share in the Medium and Heavy Commercial Vehicles segment due to some structural shift in the intermediate commercial vehicle segment though it vows to regain the lost ground with new products.
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