Ashok Leyland MD Resigns, Shares Down By Eight Per Cent

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Citing personal reasons, the Managing Director and Chief Executive Officer of commercial vehicle manufacturer, Ashok Leyland, Vinod K. Dasari has resigned. The resignation which takes effect March 31, 2019, was announced on Wednesday.
He will be suceeded by Dheeraj Hinduja who will take over as Executive Chairman with immediate effect.

Reacting to the development, Ashok Leyland shares declined by eight per cent on Wednesday Morning

Dasari is the first MD to quit Ashok Leyland, while all his predecessors retired. “I have been thinking about this for some time; I have decided to pursue my personal interests,” he explained.

A statement issued by the company explained that after 14 years with the company, Vinod K. Dasari has decided to pursue his personal interests.

Chairman of the company, Dheeraj G Hinduja, on Wednesday said: “I would like to place on record the contribution of Dasari in making Ashok Leyland a formidable force in the industry. He along with his leadership team steered the company to ensure significant all-round performance. We wish Dasari the very best in his future endeavors”.

Meanwhile, Dasari will continue in his position till 31 March 2019. “My decision to leave is purely personal as I wish to pursue my personal interests and continue my learning journey,” he added.
Dasari has been the Managing Director of Ashok Leyland Limited since April 1, 2011 and promoted as Chief Executive Officer in April 01, 2016.
Dasari also served as the MD of Hinduja Automotive Limited. He was the Chief Operating Officer of Ashok Leyland Ltd. since April 6, 2005 and served as the Head of its manufacturing, strategic sourcing, and corporate quality engineering divisions.