Eicher Motors names Siddhartha Lal executive chairman, Govindarajan as MD; announces other board changes

Siddhartha Lal

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26 Aug, 2025 12:21

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Eicher Motors Ltd (EML) has announced key changes to its board, appointing Siddhartha Lal as the executive chairman following the retirement of S Sandilya. The company has also named Vinod Aggarwal as vice chairman (non-executive) and B Govindarajan as managing director.

Vinod Aggarwal, who will continue as the MD and CEO of VE Commercial Vehicles (VECV), Eicher’s joint venture with Volvo Group, takes on additional responsibilities as vice chairman of Eicher Motors. B Govindarajan will remain the CEO of Royal Enfield while assuming the MD role at Eicher Motors.

In addition to these appointments, Eicher Motors has inducted Ira Gupta and Arun Vasu as independent directors, effective February 10 and February 13, respectively. Meanwhile, independent director Manvi Sinha will step down on February 12 upon completing her tenure.

Also read | Eicher Motors Q3 Results: Net profit up 17.5% on-year at Rs 1,170.5 crore

Following these changes, Eicher Motors’ board will comprise:

• Siddhartha Lal – Executive chairman
• Vinod Aggarwal – Vice chairman (non-executive) and MD & CEO, VECV
• B Govindarajan – Managing director, EML, and CEO, Royal Enfield
• Independent directors – Inder Mohan Singh, S Madhavan, Tejpreet S Chopra, Arun Vasu, and Ira Gupta

"After more than 25 years at EML, I look forward to shaping the company’s long-term vision while continuing to drive consumer insights, brand development, and technology adoption," Lal said.

Vinod Aggarwal, in his new role, will support the board and management. Govindarajan, who has spent nearly three decades at Eicher, said he aims to maintain the company’s growth momentum.

Ira Gupta, a human resources veteran, has held leadership roles at Microsoft India and GlaxoSmithKline, with expertise in leadership coaching and organisational transformation. Arun Vasu, the chairman of TT Group, has experience in logistics, foreign exchange services, and water sports ventures.

The board-level changes come on the same day Eicher Motors reported its best-ever quarterly financial performance. The company's Q3 FY25 net profit rose 17.5 percent year-on-year to Rs 1,170.5 crore, while revenue increased 19 percent to Rs 4,973.1 crore. The strong results were driven by record-high Royal Enfield sales and continued growth at VECV, despite industry headwinds.

Eicher Motors, the parent of Royal Enfield, is a key player in the mid-sized motorcycle segment and has a presence in over 65 countries. Through VECV, it is involved in manufacturing trucks, buses, and Volvo engines.