Nitin Seth, COO of Ashok Leyland resigns – ET Auto

Mumbai: Nitin Seth, the chief operating officer of Ashok Leyland and the director on board of Switch Mobility the UK based electric vehicle arm of the truck maker has resigned from the company.The resignation of Seth comes at a critical time, when the company’s light commercial vehicle business is gaining momentum both locally and in the international markets and its EV arm Switch Mobility prepares itself for a round of funding in the company.

However its core business of medium or heavy commercial vehicles has seen a severe erosion in the market share in the recent quarters, say people in the know.

The company in fact has seen its EBIDTA margin drop from a strong double digit to a negative return in the last quarter. Ashok Leyland posted a loss before tax Rs 412 crore in FY21, the first time since FY2013 and delivered a loss in Q1 of FY-22 – with operations severely hit by Covid-19.ET is yet to receive an official response from Ashok Leyland on the queries sent to the company. Despite repeated attempts to reach Seth, ET could not elicit any response from him.

Seth managed over 50% of the volumes of Ashok Leyland’s business and all four businesses headed by him roughly accounted for 40% of the total revenues of the company. He also was one of the key architects in setting up the foundation for the new age Switch Mobility business at the company. The cumulative LCV sales volume grew 93% to 18493 units in the first five months of FY22 compared with the same period last fiscal.

He has over three decades of experience in the automotive industry, having worked across segments – cars , medium and heavy commercial vehicles & light commercial vehicle products. He spent over a decade at Ashok Leyland – right from leading sales and marketing, managing global alliances – Seth also provided strategic and operational leadership roles in greenfield projects and product planning.

At Ashok Leyland, Seth laid the foundation for the light commercial vehicle business – first in a JV with Nissan and eventually turned around the business as an independent operation. Apart from LCVs, he was leading other growth areas of businesses like defence, power solution and international operations.

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