Nitin Seth, COO of Ashok Leyland resigns, Auto Information, Automobilnews
Mumbai: Nitin Seth, the chief working officer of Ashok Leyland and the director on board of Change Mobility the UK primarily based electrical automobile arm of the truck maker has resigned from the corporate.The resignation of Seth comes at a vital time, when the corporate’s mild industrial automobile enterprise is gaining momentum each regionally and within the worldwide markets and its EV arm Change Mobility prepares itself for a spherical of funding within the firm.
Nonetheless its core enterprise of medium or heavy industrial automobiles has seen a extreme erosion out there share within the latest quarters, say individuals within the know.
The corporate in truth has seen its EBIDTA margin drop from a robust double digit to a adverse return within the final quarter. Ashok Leyland posted a loss earlier than tax Rs 412 crore in FY21, the primary time since FY2013 and delivered a loss in Q1 of FY-22 – with operations severely hit by Covid-19.ET is but to obtain an official response from Ashok Leyland on the queries despatched to the corporate. Regardless of repeated makes an attempt to succeed in Seth, ET couldn’t elicit any response from him.
Seth managed over 50% of the volumes of Ashok Leyland’s enterprise and all 4 companies headed by him roughly accounted for 40% of the entire revenues of the corporate. He additionally was one of many key architects in establishing the muse for the brand new age Change Mobility enterprise on the firm. The cumulative LCV gross sales quantity grew 93% to 18493 items within the first 5 months of FY22 in contrast with the identical interval final fiscal.
He has over three a long time of expertise within the automotive trade, having labored throughout segments – vehicles , medium and heavy industrial automobiles & mild industrial automobile merchandise. He spent over a decade at Ashok Leyland – proper from main gross sales and advertising and marketing, managing international alliances – Seth additionally offered strategic and operational management roles in greenfield tasks and product planning.
At Ashok Leyland, Seth laid the muse for the sunshine industrial automobile enterprise – first in a JV with Nissan and finally turned across the enterprise as an impartial operation. Aside from LCVs, he was main different progress areas of companies like defence, energy resolution and worldwide operations.