Betting big on renewed market demand, Eicher Motors Limited (EML), the parent company of Royal Enfield is ready to rush through new top administrative changes to keep up with its expansion plans.
In line with its new roadmap, the company on Tuesday announced to elevate B Govindarajan as the motorcycle brand's Chief Executive Officer (CEO). Govindarajan had been serving as the Executive Director of Royal Enfield since August last year, and prior to that, he was the Chief Operating Officer (COO) at the company since 2013.
According to the company, Govindarajan will also serve as a Wholetime Director on the Board of EML. He has spent over 23 years working across Royal Enfield and Eicher Motors, and over the years, has led several key developments including the likes of Himalayan, Continental GT 650, and Interceptor INT 650 as well as the more recent J-platform based Meteor and Classic 350 models.
The announcement also comes along with the company's Q4 FY2022 results, post the Board of Directors meeting held on Friday, May 13, 2022. Eicher Motors says the appointment of B Govindarajan as CEO, Royal Enfield was in line with the company's long-term ambitions, strategic growth plans, and a strong product launch line-up.
“The company believes that Govindarajan's business and technical knowledge, leadership skills, industry understanding and experience in the industry, and tenure at Royal Enfield will help him take the company to the next level,” the company said in a statement.
“As we move forward, we remain focused on creating products and offering experiences that stay true to our philosophy of pure motorcycling. As the supply chain settles and the market starts getting buoyant, we are ready to ramp up and grow Royal Enfield to new heights,” B. Govindarajan, CEO, Royal Enfield, and Wholetime Director, EML said.
Eicher Motors on Friday posted a 16% increase in its consolidated net profit after tax at Rs 610 crore for the fourth quarter ended March 2022, on the back of steady growth across business verticals. The company had reported INR 526 crore during the January-March period of 2021-2022 fiscal.