Siddhartha Lal Was Re-Appointed as Managing Director of Eicher Motors Limited || Some Information about Siddhartha Lal and Eicher Motors Limited || 2021 ||

SIDDHARTHA LAL HAS BEEN RE-APPOINTED AS MANAGING DIRECTOR OF EICHER MOTORS LIMITED :

      On 23 August 2021, Siddhartha Lal was re-appointed as managing director of Eicher Motors Limited with effect from 1 May 2021. The board's decision came two days after shareholders rejected the reappointment of Siddhartha Lal as managing director of Eicher Motors Limited. The board then went back to the shareholders for their approval. Shareholders expressed their views through postal ballots.

      Shareholders were skeptical of the rationale behind a 10 percent increase in Lal's salary for the financial year ended December 31, 2021. According to them, where the medium employee's salary increased by only 1 percent, how his salary increased by 10 percent. According to Eicher, in previous years the MD was paid the actual amount as remuneration, in view of this, a revised remuneration structure was approved for posts with a maximum cap of 1.5 per cent of profits under Section 198 of the Companies Act. Eicher Motors' fortunes were turned around for creating Royal Enfield brand and signing a joint venture with Swedish truck and bus maker Volvo. The credit went to Siddhartha Lal for his razor-sharp focus. 

SPECIAL NOTES FOR ASPIRANTS :

• Eicher Motors Limited was established in 1948.

• It is headquartered in New Delhi.

• Vikram Lal is the founder of Eicher Motors Limited.

• Siddhartha Lal is the owner and CEO of Eicher Motors Limited.