VE Commercial Vehicles Ltd. (VECV), the joint venture between the Volvo Group and Eicher Motors Limited, has announced a series of leadership changes that will take effect on April 1, 2026.

B. Srinivas, who has served as the company’s Chief Operating Officer since 2024, has been appointed Managing Director and Chief Executive Officer, succeeding Vinod Aggarwal in the role.

When Srinivas first walked into Eicher’s offices in August 1994 as a deputy manager in product development, the company was navigating one of the most consequential inflection points in its history. The joint venture with the Volvo Group was still years away.

That year, Eicher had just launched its breakthrough 9-tonne and 12-tonne trucks—products that reshaped India’s medium-duty truck segment by filling the gap between light commercial vehicles and the heavy-duty segment then dominated by Tata Motors and Ashok Leyland. The company had also recently concluded a decade-long technical assistance agreement with Mitsubishi Motors Corporation.

India’s economy, still adjusting to the reforms following the 1991 Indian economic liberalisation, was beginning to generate fresh logistics demand even as the commercial vehicle sector cycled through a post-boom slowdown.

Thirty-one years and eight months later, Srinivas is now the man in charge.

A Career Built Across the Organisation

Srinivas brings over three decades of experience within the Eicher ecosystem, having held leadership roles across strategy, sales, marketing, product development, and operations.

Before becoming COO in 2024, he served as Head of Product Strategy & Purchasing from 2022 to 2024. Between 2018 and 2022, he led the Eicher Bus business at VECV, overseeing the company’s expansion in the segment.

He is a B.Tech (Mechanical) graduate from Nagarjuna University and holds a Post Graduate Diploma in Industrial Engineering and Management from the Andhra Pradesh Productivity Council.

Srinivas has also been active in industry bodies, serving as Co-Chairman of the Economic Research Group at Society of Indian Automobile Manufacturers (SIAM) from September 2017 to September 2022, and currently chairs the SIAM Trade Fair Council.

Commenting on the transition, Siddhartha Lal, Chairman of Eicher Motors Ltd., said Srinivas’s appointment reinforces the company’s long-term strategic continuity.

“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 who is willing to make changes and strategic shifts towards achieving the company’s long-term goals,” Lal said.

Reflecting on his new role, Srinivas said his three-decade journey within the organisation had been 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,” he said.

Vinod Aggarwal to Become Chairman

As part of the leadership transition, Vinod Aggarwal will step down from his current position as Managing Director and CEO after sixteen years at the helm. He will assume the role of Chairman of the Board at VECV as a nominee of Eicher Motors Limited.

Aggarwal succeeds Sofia Frändberg, who completes her three-year term as Chairperson representing the Volvo Group. Frändberg will continue to serve on the company’s board.

Lal credited Aggarwal with building strong foundations for the company over nearly two decades of leadership. “Under his leadership, VECV has expanded into new segments, business lines, and markets, consistently outgrowing the industry and strengthening its position as a leading player in the commercial vehicle sector,” he said.

Aggarwal has spent more than four decades with the Eicher Group, including serving as Group Chief Financial Officer of Eicher Motors before taking charge of VECV.

In a separate board development, Rajinder Singh Sachdeva, who is retiring from his role as Deputy CEO and Chief Transformation Officer, has been nominated to the VECV Board as a representative of Eicher Motors Limited.

He replaces Raul Rai, who steps down as Director. The Board acknowledged Rai’s contributions since the company’s inception.

Founded in July 2008, VECV operates as a joint venture between the Volvo Group and Eicher Motors Limited and has grown into one of India’s key commercial vehicle manufacturers.

The company’s businesses include Eicher-branded trucks and buses, Volvo buses in India, exclusive distribution of Volvo trucks in the country, and serving as the global manufacturing hub for the Volvo Group’s 5- and 8-litre automotive engines. Its portfolio also includes the Engineering Components business and Eicher Power Solutions.

Backed by multiple brands and business divisions, VECV has positioned itself as a significant player in modernising commercial transportation across India and several emerging markets.