VECV appoints B Srinivas as MD & CEO; Vinod Aggarwal becomes new Chairman

VE Commercial Vehicles Ltd. (VECV) has announced a series of leadership changes that will take effect from April 1, 2026. The company has appointed B Srinivas as its new Managing Director and Chief Executive Officer.

The current MD & CEO, Vinod Aggarwal, will transition to the role of Chairman of the Board, while the current Chairperson, Sofia Frandberg, will step down after completing her three-year term and continue as a board member. The company has also announced that Rajinder Singh Sachdeva will join the board as a nominee of Eicher Motors Limited, replacing Raul Rai, who is stepping down after serving as a Director since the company’s inception.

B Srinivas to lead VECV

B Srinivas brings more than three decades of experience within the Eicher organisation. Over the years, he has handled responsibilities across strategy, sales, marketing and operations, building extensive experience in the commercial vehicle business. Since 2024, he has served as the Chief Operating Officer of VECV. Prior to that, he headed Product Strategy & Purchasing between 2022 and 2024. From 2018 to 2022, he led the Eicher Bus business at VECV.

Commenting on the appointment, Siddhartha Lal, Chairman of Eicher Motors Ltd., 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," he adds.

Srinivas, on being appointed to the new role, 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."

Vinod Aggarwal moves to Chairman role

Aggarwal, currently Vice Chairman of Eicher Motors Ltd., will take over as Chairman of the board at VECV as the nominee of EML. He has been associated with the Eicher Group for more than four decades and has led VECV for nearly two decades as its CEO and later Managing Director.

During his tenure, the company expanded into new segments, business lines and markets while strengthening its position in the Indian commercial vehicle industry. Highlighting his contributions, Siddhartha Lal said, “Vinod Aggarwal has been a veteran with forty-three years of outstanding service at 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."

He also mentioned, “Under his leadership, VECV has built very strong foundations and has had tremendous development in all fronts - outgrowing the industry comprehensively, expanding into new segments, business lines, and markets; thereby cementing its position as a leading player and disruptor in the CV industry in India."

Aggarwal, congratulating Srinivas and taking on the new role, said, “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."

Board changes

Furthermore, as part of the board changes, Rajinder Singh Sachdeva will join the board as an Eicher Motors nominee following his superannuation as Deputy CEO and Chief Transformation Officer at VECV. He replaces Raul Rai, who will step down from the board after serving as a director since the company’s formation.

Reflecting on the company’s journey and the leadership transition, Sofia Frandberg said, “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 its becoming a strong player in the commercial vehicle market. I look forward to supporting our collective efforts to drive the company’s next chapter of growth."

Get insights into Upcoming Cars In India, Electric Vehicles, Upcoming Bikes in India and cutting-edge technology transforming the automotive landscape.