Siddhartha Lal appointed as executive chairman of Eicher Motors

In a significant leadership transition, Eicher Motors Limited (EML) has appointed Siddhartha Lal as its new executive chairman, marking the end of S. Sandilya’s 25-year tenure as chairman. The appointment is particularly noteworthy given Lal’s instrumental role in transforming Royal Enfield from a struggling motorcycle division into a global powerhouse in the midsize bikes segment.

Lal, who has been serving as the managing director and chief executive officer (MD and CEO) of Eicher Motors, is widely credited with orchestrating one of the most remarkable turnarounds in Indian automotive history. Now, after over 25 years at EML in various capacities, he will take on an expanded role focusing on the company’s strategic direction.

As the executive chairman, Lal will concentrate on shaping EML’s long-term vision, driving consumer insights, brand development and technology adoption while also mentoring the next generation of leaders. His proven track record in brand revival and business transformation positions him well for this strategic role.

The company’s board has appointed Vinod Aggarwal as vice chairman (non-executive) and B. Govindarajan as the new MD. Govindarajan, who has been with Eicher for nearly three decades, will retain his position as Royal Enfield’s CEO. Aggarwal, too, will continue his existing role as the MD and CEO of VE Commercial Vehicles, EML’s joint venture with the Volvo Group.

The board restructuring also includes the addition of two new independent directors: Ira Gupta, an HR advisory expert with 27 years of experience, including leadership roles at Microsoft India and GlaxoSmithKline, and Arun Vasu, the third-generation leader of the TTK family business who brings extensive entrepreneurial experience. These appointments come as Manvi Sinha concludes her tenure as an independent director on February 12, 2025.

The leadership changes come at a time when Eicher Motors continues to show strong financial performance. The company recorded a total income of Rs 16,536 crore (approximately USD 2.01 billion) for FY2024, while VECV reported a revenue of Rs 21,459 crore (approximately USD 2.58 billion) in the same period.

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