VE Commercial Vehicles Ltd. (VECV) on Tuesday announced the appointment of B Srinivas as the new managing director and chief executive officer, effective April 1 this year.
B Srinivas has spent more than three decades at Eicher, managing diverse responsibilities across various business lines and in strategy, sales, marketing and operations. Since 2024, Srinivas has served as the chief operating officer of VECV. He was the head of product strategy and purchasing from 2022 to 2024. From 2018 to 2022, he played a pivotal role leading the Eicher Bus business at VECV.
With his deep understanding, extensive cross-functional experience of the commercial vehicle market and strong leadership skills, B Srinivas will spearhead the next chapter of growth for the company.
Consequent to the above change, Vinod Aggarwal, vice chairman, Eicher Motors Limited (EML), has been appointed chairman of the board at VECV, effective April 1, 2026, as the nominee of EML. Vinod has led VECV for sixteen years and will step down from his current role as MD and CEO to take over from Sofia Frändberg, who completes her term of three years as the chairperson and a nominee of AB Volvo. Sofia will continue to serve on the board of VECV.
Rajinder Singh Sachdeva, on his superannuation as deputy CEO and chief transformation officer of VECV, has been nominated to the board of VECV as a nominee of EML, replacing Raul Rai, who steps down as director of VECV. The board placed on record its deep appreciation for the significant contributions made by Raul Rai, who has served as a director since the inception of the company.
Speaking on the leadership transition at VECV, Siddhartha Lal, chairman, Eicher Motors Ltd. (EML), said, “I am delighted with the appointment of B Srinivas as the new managing director and CEO of VECV. It strengthens our well-calibrated, long-term strategy and continuity at VECV. I have personally worked with Srinivas for over twenty-five years and seen his hands-on and inclusive leadership style. 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. I wish him the best in his new role and look forward to working with him.
“Aggarwal has been a veteran with forty-three years of outstanding service at the Eicher Group, including Group CFO of Eicher Motors. He has been running VECV for close to two decades as the CEO and later also as its managing director. Under his leadership, VECV has built very strong foundations and has had tremendous development on all fronts — outgrowing the industry comprehensively, expanding into new segments, business lines and markets; thereby cementing its position as a leading player and disrupter in the commercial vehicle industry in India. I congratulate Vinod on his new position as chairman, where he will continue to guide VECV’s journey and growth,” Siddhartha Lal added.
Reflecting on VECV’s growth and congratulating the new leadership, Sofia Frandberg, chairperson, VECV and senior leader, Volvo Group, said, “VECV is testament to a very successful partnership between the Volvo Group and Eicher where two industry leaders have built on each other’s strengths.
Since the formation of the joint venture in 2008, the company has been implementing a strong growth strategy, strategically investing in products, capacity, technology and network, resulting in it becoming a strong player in the commercial vehicle market. My best wishes to both Srinivas and Vinod as they step into their new roles. I look forward to supporting our collective efforts to drive the company’s next chapter of growth.”
Transitioning to his new role as the chairman of VECV, Vinod Aggarwal said, “My heartiest congratulations to Srinivas as he steps into the role of managing director & CEO of VECV. With over three decades of experience, he brings along a deep understanding of our legacy, versatile experience of the business and a strategic vision to scale new heights. I am confident he will accelerate our growth trajectory. I wish him great success and look forward to working with him as I transition into my new role as the chairman of the company.”
Newly appointed as the managing director & CEO of VE Commercial Vehicles Ltd., B Srinivas said, “My journey with Eicher has been truly remarkable. Having spent thirty-one years here in various capacities, both in commercial and technical roles, including the last two years as the chief operating officer of VECV, I am looking forward to embarking on this next phase. I would like to thank the board of VE Commercial Vehicles Ltd. for this opportunity, and entrusting me to drive our growth trajectory alongside my team.”
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