Ashok Leyland CEO and MD Vinod Dasari resigns

After 14 years in the commercial vehicle major Ashok Leyland Ltd, Vinod K. Dasari, CEO and Managing Director, has decided resign to pursue other interests, said Executive Chairman Dheeraj G. Hinduja on Tuesday.

Hinduja told the media: "Vinod has resigned to pursue his own interests. He will continue with the company till March 2019. Meanwhile, the company board has asked me to take over as Executive Chairman with immediate effect."

Hinduja, who was the company Chairman, said he would take the responsibility of Executive Chairman till a replacement for Dasari was found.

Asked whether the company would look inside or outside for a new Managing Director, Hinduja said: "The resignation was sudden. The Board needs some time to decide on the replacement."

He said it was the Hinduja family's policy to find the best talent. He expressed confidence that Ashok Leyland's growth momentum would continue.

According to Dasari, it was an amicable separation and there comes a time when one has to pursue own interest.

"It was a well thought out decision. I will work with Dheeraj till the end of this fiscal," Dasari said.-IANS