Eicher Rejigs Top-Level Management, Siddhartha Lal To Take Over As Executive Chairman

Eicher Motors Ltd. appointed Siddhartha Lal as the executive chairperson of the board following the retirement of Chief Executive Officer S Sandilya. The Royal Enfield maker also announced other top-level board changes along with the company's quarterly earnings.

Vinod Aggarwal was appointed as a non-executive vice chairperson of the company while retaining his role as the managing director and chief executive of the Volvo joint venture VE Commercial Vehicles.

B Govindarajan, while continuing as the CEO of Royal Enfield, was also named as the new managing director of Eicher Motors, a regulatory filing read.

The company said Ira Gupta and Arun Vasu had been appointed as independent directors. "While Ira will assume her role on the board starting February 10, all other appointments are effective February 13, 2025."

Gupta has previously worked as the chief human resources officer at Microsoft India and South Asia, and has held HR positions at GlaxoSmithKline.

Vasu, a third-generation TTK family member, currently serves as the chairperson and managing director of the TT Group, owner of the eponymous TTK Prestige Ltd.

Manvi Sinha, another independent director on EML's board, is set to retire on Feb. 12 on completion of her tenure.

"I will be deeply engaged in shaping EML's long-term vision for the decades ahead - guiding the company's strategic direction while continuing to drive consumer insights, brand development, next-gen technology adoption, and product innovation," Lal said.

Eicher Motors' also reported its third-quarter earnings, which came out to be largely in-line with estimates of analysts polled by Bloomberg. Revenue rose 19% year-on-year to Rs 4,973 crore, while profit rose 18% over the same period to Rs 1,171 crore.