Chennai, Nov 13 (UNI) In a surprise development, Mr Vinod K Dasari

has resigned from the post CEO and Managing Director of commercial

vehicle major Ashok Leyland and Dheeraj G Hinduja has taken over as

the Executive Chairman with immediate effect.

After serving 14 years in the company, Mr Vinod Dasari has resigned

to pursue his own interests and the Board has asked Mr Dheeraj Hinduja

to take over as the Executive Chairman.

Talking to reporters here on Tuesday, Mr Dheeraj Hinduja said “Vinod

has resigned to pursue his own interests and the Board has asked me

to take over as Executive Chairman with immediate effect.”

He said Mr Vinod would continue with the company till March 2019.

Mr Dheeraj Hinduja, who was the Chairman of the company, said he

would be Executive Chairman till a suitable replacement for Vinod was

found.

Asked whether the replacement for Vinod would be an insider or an

outsider, he said “the resignation was sudden and the Board needs

some time to decide on his replacement.'

Mr Vinod Dasari, who was also present, said it was an amicable

separation. 'There comes a time when one has to pursue his own

interest.'

Terming it as a well thought out decision, Mr Vinod said he would

work with Mr Dheeraj till the end of this financial year.

UNI GV 1730