Siddhartha Lal will continue to lead Eicher Motors Ltd. into the next decade, even as the motorcycles to trucks business gets ready for an electric future.
The Chennai-based automaker has appointed Lal as its executive chairman for five more years, extending the Lal scion tenure at the helm until 2030, according to an exchange filing on Friday. The appointment is effective Feb. 13, 2025.
Also, B Govindarajan will continue as the managing director of the company for five more years till Feb. 12, 2030. Separately, Ira Gupta and Arun Vasu were appointed as independent directors on the board for the same period of time.
Lal's re-appointment comes at a time when Eicher Motors' motorcycle business is firing on all cylinders—both one and two. In the fiscal year ended March 31, 2025, Royal Enfield sales crossed the one million mark for the first time, growing at 11% year-on-year to 1,009,900 units. Eicher's unit — VE Commercial Vehicles — clocked a growth of 5.4% to 90,161 units.
In April, total motorcycle sales of the company rose 6% year-on-year to 86,559 units. VECV sales increased 27.3% to 6,846 units, according to an exchange filing on Thursday.
On Friday, Eicher Motors shares fell 2.23% to Rs 5,441.00 apiece on the BSE even as the benchmark Sensex ended the day 0.32% higher at 80,501.99 points.
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