Ashok Leyland Appoints K M Balaji as Whole-Time Director and CFO

Ashok Leyland's Board of Directors on May 28, 2026, appointed K M Balaji as Whole-Time Director and Chief Financial Officer of the company for a two-year term, effective the same date, subject to shareholder approval.

The appointment was made on the recommendation of the Nomination and Remuneration Committee. Balaji, who currently serves as President, Finance & CFO of the company, has been with Ashok Leyland for 32 years, beginning his career in internal audit before moving across treasury, costing, investor relations, business finance, pricing, product cost engineering and indirect taxes.

A Fellow member of the Institute of Chartered Accountants of India, Balaji holds management certifications from Harvard Business School, Kellogg School of Management, Indian School of Business and IIM Ahmedabad.

He has handled QIP documentation, enterprise valuations for stake sales, M&A evaluations and cross-currency interest rate swaps, and has raised over Rs 2,000 crore through Non-Convertible Debentures. He also managed the finance function at a bus assembly plant in Leeds, United Kingdom.

In 2024–25, the Confederation of Indian Industry recognised him as Leading CFO of the Year for Excellence in Turnaround. He chairs the CFO Forum of CII's Tamil Nadu State Council and the Finance Committee of the Global Automotive Research Centre under the National Automotive Board, Ministry of Heavy Industries, Government of India.

Balaji is not related to any director of the company under the Companies Act, 2013, and is not debarred from holding directorial office by any SEBI or other regulatory order.