Ravindra Pisharody of Tata Motors has decided to step down from the position of executive director (commerical vehicles) and as a director of the company with immediate effect due to ‘personal reasons’, the company said in a BSE filing.
Although Tata Motors continues to be the country’s largest seller of commercial vehicles, his departure comes at a time when sales have been weak, mainly due to the after affects of demonetisation and the change in emission norms after April 1 this year.
In May, the company reported a huge drop of 40% in the sales of M&HCVs year-on-year to 6,522 units. The company has been constantly losing market share to close rival Ashok Leyland.
Ashok Leyland now holds a strong 33% share in the M&HCV segment. While, according to SP Singh, Tata Motors has been losing its hold on the space, shedding 7-10% in the last two years.
Pisharody joined Tata Motors in 2007 as vice president commercial vehicles (sales & marketing). Later in 2012, he took over the position of executive director (commercial vehicles). Before his stint with Tata Motors, he was with Castrol and Philips India. Pisharody is an alumnus of IIT Kharagpur and IIM Calcutta.