Mumbai, August 13, 2020: The Board of Directors of Greaves Cotton Ltd today announced that Mr Nagesh Basavanhalli, Managing Director and Chief Executive Officer- Greaves Cotton Limited, had decided to relinquish his executive responsibilities in the organization, due to personal and family commitments. While accepting his resignation, the Board announced that Mr. Basavanhalli would continue to be a member of the Board and would be designated Vice Chairman of the Board effective 14th August 2020. In his role as Vice Chairman, he would continue to provide strategic direction to Greaves Cotton and be actively involved in the deliberations of the Managing Committee of GCL in a non-executive capacity. Mr Basavanhalli will also continue to be a member of the Board of Directors of Greaves Cotton’s ambitious EV venture, Ampere Vehicles Pvt Ltd, and provide it with strategic direction and mentoring.
The Board took note of, and appreciated, Mr Basavanhalli’s immense contribution to Greaves Cotton over the past four years and observed that he had provided exceptional leadership focussing on business growth through innovation, technological diversification and customer partnership. It is under his stewardship, that the company has moved towards new age technology in fuel agnostic solutions and electric mobility. Over the past four years, he has helped pave the way for the Company to build a strong and resilient brand by strengthening the human capital with diverse talent, investing into future technologies and building robustness in the manufacturing processes. His efforts have built an innate agility and dynamism into each function of this organisation.
The Board also announced the appointment Mr Ajit Venkataraman as the Executive Director of GCL. In his new role Mr Venkataraman will take over the executive responsibilities of Greaves Cotton and continue to scale up the growth momentum of the organisation. Mr Venkataraman comes with diverse industry experience both national and global, and an impressive track record of delivering performance consistently through the years.