Ashok Leyland Appoints KM Balaji As CFO; Gopal Mahadevan Moves To New Role

Ashok Leyland Ltd. appointed K.M. Balaji as chief financial officer with effect from 1 June, replacing Gopal Mahadevan, who will move to a new role.

Balaji, who is currently deputy CFO, has worked with Ashok Leyland for over 31 years, the Indian commercial vehicle manufacturer said in a stock exchange announcement.

He has considerable experience in handling and managing different facets of finance such as MIS, budget, product cost engineering, indirect taxation, treasury, investor relations, payables and receivables, it said.

Ashok Leyland, the flagship company of Hinduja Group, said current CFO Mahadevan has been redesignated as director - strategic finance and M&A for two years from 24 May. His term as CFO will end on 31 May.

The company said Mahadevan will continue to serve on the board of Ashok Leyland and its subsidiaries. In his new role, Mahadevan will focus on the growth agenda of Ashok Leyland’s subsidiary companies as well as M&A strategies of the company, it added.

Separately, Ashok Leyland also said its board reappointed Dheeraj Hinduja as an executive chairman for two years with effect from 26 November. The reappointment is subject to the approval of shareholders.

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