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|9th November 2015, 14:31||#1|
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Andrew Palmer (Aston Martin CEO) appointed Additional Director of Ashok Leyland
Ashok Leyland has announced that it has appointed Andrew Palmer as an Independent Additional Director of the company under the Independent category.
Andrew Palmer is currently the CEO of Aston Martin. He was previously working with Nissan and was one of the key people in the forming of the joint venture between Nissan and Ashok Leyland. The two companies have a memorandum of understanding with the Tamil Nadu government worth Rs. 4,000-crore. The joint venture has acquired plots of land near Chennai to build factories for engine manufacture, assembly and also units for technology development.
However, in recent times, the joint venture has hit rough weather. The Nissan Evalia and Ashok Leyland Stile, which were cross-badged products, have been taken out of production, owing to weak demand. The joint venture has also suffered heavy losses.
Palmer left Nissan in September 2014 and joined Aston Martin in October 2014.
Source: ET Auto
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