Vipin Sondhi, MD & CEO of Hinduja flagship commercial vehicle major Ashok Leyland (ALL) has decided to move on to take care of his personal and family responsibilities.
ALL on Friday announced that Sondhi has expressed his intention to devote more time to take care of certain personal and family commitments in the post-Covid pandemic situation, that requires his extended presence in New Delhi and consequently step down as MD and CEO with effect from December 31, 2021.
Respecting his personal reasons, the board has extended its support and agreed to his decision to move on. Sondhi will fully support and facilitate a smooth management transition, ALL said in a statement.
To assist in business continuity and a seamless transition, the board has requested Dheeraj Hinduja to step in as executive chairman with immediate effect. The board will meet soon to decide on the further course of action for identifying the next CEO and MD.
Dheeraj Hinduja, chairman, ALL, 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 endeavors. We see a revival in domestic and international markets. I am confident that our new products and soon to be introduced alternate propulsion variants will trigger growth in volume and market share shortly.”
Sondhi joined the Hinduja group from JCB in November 2019 and was appointed as MD & CEO in December 2019.
Sondhi’s exit comes at a time when the Chennai-headquartered CV major is making giant strides in alternate fuel powertrains. The company had recently revealed its plans to launch trucks in CNG and LNG version soon to establish formidable presence in the alternate fuel vehicles space. ALL had also announced that it is working on hydrogen-powered powertrains.
Vipin Sondhi, CEO & MD, ALL, said, “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. 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.”