Mumbai, March 10 VE Commercial Vehicles (VECV) announced on Tuesday the appointment of B Srinivas as Managing Director and CEO, effective April 1, to lead the next phase of the company's growth.
Srinivas will replace Vinod Agarwal, who is also the Vice Chairman of Eicher Motors Limited (EML), the company said.
Agarwal has been appointed as the Chairman of the Board at VECV from April 1, it said.
VECV is a joint venture between the Swedish automobile major Volvo Group and Eicher Motors.
Agarwal has led VECV for 16 years and will step down from his current role as MD & CEO. Agarwal will take over from Sofia Frandberg, who completes her three-year term as the Chairperson and a nominee of AB Volvo, VECV said.
Sofia will continue to serve on the Board of VECV, according to the company.
Srinivas has spent more than three decades at Eicher, managing diverse responsibilities across various business lines, including strategy, sales, marketing, and operations.
Since 2024, Srinivas has served as the Chief Operating Officer of VECV, the company said.
He was the head of product strategy and purchasing from 2022 to 2024. Prior to that, between 2018 and 2022, Srinivas led Eicher's bus business at VECV.
"Srinivas' appointment strengthens our well-calibrated, long-term strategy and continuity at VECV. He is a thoughtful and courageous leader, and is willing to make changes and strategic shifts towards achieving the company's long-term goals. I believe the company will benefit tremendously from his leadership – combining his customer-focused approach, technological acumen, and collaborative style," said Siddhartha Lal, Chairman of Eicher Motors Ltd.
Lal also said that Agarwal has 43 years of outstanding service at the Eicher Group, including as Group CFO of Eicher Motors, and has been running VECV for close to two decades as CEO and later as its Managing Director.
The company also announced that Deputy CEO and Chief Transformation Officer at VECV, Rajinder Singh Sachdeva, on his retirement, has been nominated to the Board of VECV as a nominee of EML, replacing Raul Rai, who steps down as Director of VECV.
"I wish both Srinivas and Vinod all the best as they take on their new roles. I look forward to supporting our collective efforts to drive the company's next chapter of growth," said Frandberg, Chairperson, VECV and Senior Leader, Volvo Group.