Ashok Leyland on November 26 announced that its MD and CEO Vipin Sondhi has expressed his intention to resign from the posts effective December 31.
Sondhi has resigned on account of personal reasons, 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 and consequently step down as managing director and CEO with effect from December 31, 2021.
The Ashok Leyland board has requested Dheeraj Hinduja, who currently serves as the non-executive, non-independent director-chairperson, to step in as executive chairman with immediate effect. The board will meet shortly to decide on the further course of action for identifying the next CEO and MD, Ashok Leyland said in a statement.
Commenting on Vipin Sondhi’s resignation, the commercial vehicle manufacturer said: “Respecting his personal reasons, the board has extended its support and agreed to his decision to move on.” Sondhi, who would step down from December 31, 2021, will fully support and facilitate a smooth management transition, it added.
After announcing his retirement, Vipin Sondhi said: “Working with the Hinduja Family and the leadership team at Ashok Leyland has been an enriching experience. That 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.Reacting to the announcement, Ashok Leyland Chairman Dheeraj Hinduja said, "I would like to place on record Vipin's significant contribution in Ashok Leyland navigating the disruption caused by the Covid-19 pandemic and seeding firm actions to pursue our Vision. We wish Vipin the very best in all his future endeavours."