CEO and Managing Director of Hinduja group flagship firm Ashok Leyland resigns

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New Delhi: Chief Executive Officer and Managing Director of Hinduja group flagship firm Ashok Leyland Vinod K Dasari resigned from the company citing personal reasons and his resignation has been accepted by the company board.

However, the board at its meeting here Tuesday asked him to continue till the end of March 2019 to facilitate a smooth transition, Ashok Leyland Chairman Dheeraj Hinduja, who was elevated as Executive Chairman in view of the resignation of Dasari, said.

The board had reappointed Dasari as Managing Director and CEO for a term of five years from April 1,2016 to March 31, 2021.

“This (resignation of Dasari) was something unexpected. The board needs time to discuss this (and find a replacement). Vinodh has done an excellent job and the team in Ashok Leyland is very strong,” Hinduja told reporters. Dasari, who had been associated with the commercial heavy vehicle maker for the past 13 years, said he had been thinking about quitting for some time.

“When we came to India 17-18 years ago, it was family decision. To come to Ashok Leyland and not go back to United States was my family decision. So, now my family is set by God’s grace and I’d been thinking about it for quite sometime (about quitting)”, he said.

Noting that he was not keen on putting his papers when the company did not perform well about six years ago, Dasari said, “we turned around and our team did a fantastic job. The team is strong now”.

Asked would the resignation of Dasari pose a challenge to the company, Hinduja said, “there are lot of mentorship, guidance from the Board whenever needed. Of course there are challenges, but I think, we are well within meeting the timelines”.

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