Eicher Motors Limited announced significant leadership changes at its material subsidiary, VE Commercial Vehicles Ltd (VECV), effective April 1, 2026. Mr. B. Srinivas has been appointed as the new Managing Director & CEO, succeeding the long-serving Mr. Vinod Aggarwal, who will transition to the role of Chairman of the Board. The announcement highlights continuity and strategic long-term vision within the Volvo Group and Eicher joint venture.
Eicher Motors Announces VECV Leadership Reshuffle
Eicher Motors Limited (EML) has notified the exchanges regarding key executive changes at its joint venture, VE Commercial Vehicles Ltd (VECV). The changes are set to take effect from April 1st, 2026, ensuring a smooth transition as the company moves into its next phase of growth.
Appointment of New MD & CEO: B. Srinivas
Mr. B. Srinivas has been appointed as the new Managing Director & CEO of VECV for a period of five years. Srinivas brings over three decades of experience within the Eicher group, having most recently served as the Chief Operating Officer of VECV since 2024. His prior roles include heading Product Strategy & Purchasing and spearheading the Eicher Bus business. EML Chairman, Siddhartha Lal, praised Srinivas’s “hands-on and inclusive leadership style”, expressing confidence in his ability to drive the company’s trajectory.
Vinod Aggarwal Moves to Chairman Role
Mr. Vinod Aggarwal, who has led VECV for sixteen years as MD & CEO, will step down from his executive role to become the Chairman of the Board at VECV, effective April 1, 2026, for a term of three years. Aggarwal is an industry veteran with 43 years of service at the Eicher Group. His tenure has been credited with building strong foundations, outgrowing the industry, and cementing VECV’s position as a market leader.
This move follows the completion of Sofia Frändberg’s term as Chairperson, who will step down but continue to serve on the VECV Board. Aggarwal congratulated Srinivas, noting his deep understanding and strategic vision, stating he looks forward to guiding VECV’s growth in his new capacity.
Board and Transformation Updates
In related movements, Rajinder Singh Sachdeva, upon superannuation as Deputy CEO and Chief Transformation Officer, has been nominated to the VECV Board as a nominee of EML. He replaces Raul Rai, who steps down as a Director, having served since the company’s inception. The Board acknowledged Rai’s significant contributions.
Joint Venture Perspective
Sofia Frändberg, Chairperson, VECV and Senior Leader Volvo Group, highlighted the success of the joint venture formed in 2008, emphasizing strategic investments in product, capacity, and technology that have established VECV as a strong player in the commercial vehicle market.
About VECV
VE Commercial Vehicles Ltd (VECV) is a joint venture between the Volvo Group and Eicher Motors Limited, operational since July 2008. The company’s business spans Eicher branded trucks and buses, Volvo Buses in India, and the exclusive distribution of Volvo Trucks in India. VECV is also a manufacturing hub for 5- & 8-liter automotive engines for the Volvo Group.
Source: BSE
