Vinod Aggarwal, who has taken over as chairman of VE Commercial Vehicles Ltd (VECV), shared a detailed note on his transition and journey in a LinkedIn post on April 1.
“As announced earlier, effective today, I step into the role of chairman VE Commercial Vehicles Ltd. (VECV), passing on the baton of managing director & CEO to B. Srinivas, who was earlier the chief operating officer of the company,” Aggarwal said in the post.
Privilege to work with exceptional leaders
Reflecting on his long career, he noted, “During my forty-three years at the Eicher Group, the last sixteen of which as Managing Director and CEO of VECV, it has been my privilege to work with exceptional leaders, colleagues, and partners who have contributed immensely to create a strong, future ready, and successful organization.”
VECV achieves many milestones
Highlighting the company’s current position, Aggarwal said VECV has achieved market leadership in light and medium duty (LMD) trucks, built a strong presence in buses under both Eicher and Volvo brands, and secured close to 10% market share in heavy duty trucks. He added that the company has also entered the large small commercial vehicle segment and continues to expand its components and engines business.
Well positioned to scale greater heights
“With market leadership in LMD trucks, a strong position in buses (both Eicher and Volvo brands), close to 10% market share in HD Trucks (both Eicher and Volvo brands), entry into the large small commercial vehicle market, and a growing components/engines business, VECV is well positioned to achieve greater heights,” he said.
Consistent growth trajectory is the key
He further emphasised the company’s consistent growth trajectory, stating, “Thanks to our customers who have reposed their trust in us, we have, for most of the last sixteen years, outgrown the industry with consistent improvement in market shares year after year.”
Hitting ₹26,000- crore company status
Recalling the company’s growth since inception, Aggarwal noted that when VECV was formed in 2008, its turnover stood at around ₹2,000 crore. “We are likely to be around ₹26,000 crore in the last financial year based on the volume for the year,” he said.
He also highlighted a key milestone: “In the last financial year, we also crossed sales of over 1,03,000 trucks and buses, making a long-cherished dream to cross 1,00,000 units a reality.”
Gratitude to colleagues, dealers, suppliers and partners
Expressing gratitude, Aggarwal said, “As I transition into my new responsibilities as chairman of VECV and vice chairman of Eicher Motors Ltd, I would like to express my heartfelt gratitude to colleagues, dealers, suppliers, partners, and stakeholders in government and Industry for their immense contributions that have made these achievements possible.”
“In my new role, I remain very much invested in our continued success and look forward to keeping connected,” he added.