V K Viswanathan, chairman and non-executive director at the Indian subsidiary of global Tier 1 supplier Bosch, has resigned from the company. He will end his nearly 20-year stint at the company's Board, on August 22.
Current MD Soumitra Bhattacharya and another Board member Peter Tyroller's names are coming up as possible successor. Vishwanathan was chairman for around six years.
Viswanathan's exit is part of a succession plan in the company. It coincides with a serious dowturn in the Indian automotive industry. Bosch earlier announced a production cut for 13 days during this month in its Maharashtra and Tamil Nadu-based plants. There could possibly be job cuts too, as seen in the case of some other industry players.