The Board of Directors of Greaves Cotton Ltd has announced that Nagesh Basavanhalli, Managing Director and Chief Executive Officer, Greaves Cotton Limited, had decided to relinquish his executive responsibilities in the organisation due to personal and family commitments.

While accepting his resignation, the Board announced that he would continue to be a member of the Board and be designated Vice-Chairman of the Board effective August 14, 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. 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 press statement issued by Greaves Cotton said.

The press statement added that the Board took note of, and appreciated, Basavanhalli’s immense contribution to Greaves Cotton over the past four years and observed that he had provided exceptional leadership focusing 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.

The Board also announced the appointment Ajit Venkataraman as Executive Director of GCL. In his new role, Venkataraman will take over the executive responsibilities of Greaves Cotton and continue to scale up the growth momentum of the organisation. Venkataraman comes with diverse industry experience, both national and global, and an impressive track record of delivering performance consistently through the years.