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Dheeraj Hinduja to become Ashok Leyland chairman

Dheeraj Hinduja to become Ashok Leyland chairman
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First Published: Tue, Oct 19 2010. 09 50 PM IST
Updated: Tue, Oct 19 2010. 09 50 PM IST
Mumbai: Dheeraj Hinduja, son of Gopichand Hinduja and a second generation member of the $25 billion Hinduja group, will take over as the chairman of India’s second largest truck maker Ashok Leyland Ltd or ALL, a person familiar with the development said.
He will replace the 80-year old current chairman R. J. Shahaney who has been with the company for more than two decades. The ALL board will meet on Wednesday in Chennai to clear the proposal.
The spokesperson of Hinduja group declined to comment on the development.
The change of guard coincides with the truck maker’s two joint ventures with Nissan Motors Co. Ltd ready to take off.
ALL has two joint ventures with Japanese’s Nissan Motors to roll out light commercial vehicles and make engine and spare parts.
Dheeraj (39) has been with the company as co-chairman for more than 18 months and was actively involved in purchasing overseas companies for technology and products. ALL bought British bus maker Optare Plc in July.
It had bought light truck marker AVIA A.S in Prague in 2006. ALL shares rose 2.47% to close at Rs74.60 apiece on the Bombay Stock Exchange on Tuesday even the exchange’s bellwether equity index Sensex dropped 0.92%.
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First Published: Tue, Oct 19 2010. 09 50 PM IST