Siddhartha Lal

Siddhartha Vikram Lal is the son of Vikram Lal, who was the founder and chief executive officer of Eicher Motors.{{cite news|last1=Blankfeld|first1=Keren|last2=Chung|first2=Grace|last3=Doebele|first3=Justin|last4=Flannery|first4=Russell|last5=Jetley|first5=Neerja Pawha|last6=Karmali|first6=Naazneen|title=Lal family|url=https://www.forbes.com/profile/lal/|accessdate=27 November 2015|work=Forbes Asia|date=7 October 2015|quote=Lal family on Forbes Lists #40 Asia's Richest Families (2015)|archive-date=8 December 2015|archive-url=https://web.archive.org/web/20151208165952/http://www.forbes.com/profile/lal/|url-status=live}} He has a sister, Simran Lal.{{cite news |last1=Hussain |first1=Shabana |date=21 October 2014 |title=The homemakers: Leading home décor brand Good Earth is a labour of love |url=http://forbesindia.com/article/live/the-homemakers-leading-home-d%C3%A9cor-brand-good-earth-is-a-labour-of-love/38841/0 |url-status=live |archive-url=https://web.archive.org/web/20151208071840/http://forbesindia.com/article/live/the-homemakers-leading-home-d%C3%A9cor-brand-good-earth-is-a-labour-of-love/38841/0 |archive-date=8 December 2015 |accessdate=30 November 2015 |work=Forbes India}} Like his father, Siddhartha attended The Doon School for his secondary education. After completing his secondary education in 1994, Lal attended St. Stephen's College of the University of Delhi for a bachelor's degree in economics. Between 1996 and 1998, he attained a postgraduate diploma in mechanical engineering from Cranfield University, and a master's degree in automotive engineering from the University of Leeds in England.{{cite web|title=Lal, Siddhartha|url=http://in.reuters.com/finance/stocks/officerProfile?symbol=EICH.NS&officerId=752297|archive-url=https://web.archive.org/web/20151208083142/http://in.reuters.com/finance/stocks/officerProfile?symbol=EICH.NS&officerId=752297|url-status=dead|archive-date=8 December 2015|website=Reuters India|publisher=Thomson Reuters|accessdate=30 November 2015}}

Lal, after completing his education, started working with MAN Nutzfahrzeuge AG. Before he joined Eicher Motors, his father, Vikram, sent him to Europe to interact with Royal Enfield motorcycle importers in the continent. Lal joined Eicher Motors in 1999, working in various capacities in the Eicher tractor division and he also created the company's geographic information system and maps division.

Lal then became CEO of Royal Enfield in 2000 (at the age of 26).{{Cite web |last=Modi |first=Ajay |date=10 February 2016 |title=Firing on all cylinders |url=https://www.business-standard.com/article/companies/firing-on-all-cylinders-116021000052_1.html |access-date=20 January 2025 |website=Business Standard |archive-date=28 September 2022 |archive-url=https://web.archive.org/web/20220928000017/https://www.business-standard.com/article/companies/firing-on-all-cylinders-116021000052_1.html |url-status=live }}{{Cite web |last=Keshadev |first=V |date=5 August 2021 |title=“The most difficult thing in business and in life is the ability to say, ‘no, this doesn’t work’” |url=https://www.outlookbusiness.com/magazine/business/story/the-most-difficult-thing-in-business-and-in-life-is-the-ability-to-say-no-this-doesnt-work-6309 |access-date=2025-01-20 |website=Outlook Business |language=en}} Initially, Lal's responsibility as CEO of Royal Enfield, which was on the verge of being sold due to the company's problems, was to fix the unit's products, financial and operational issues.{{Cite web |last=Bhatia |first=Vinita |date=1 December 2022 |title=Siddhartha Lal: An Indian Powerhouse On Two Wheels |url=https://www.outlookbusiness.com/magazine/business/story/siddhartha-lal-an-indian-powerhouse-on-two-wheels-6676 |access-date=20 January 2020 |website=Outlook Business |language=en}} From 2000 to 2004, he worked out of Royal Enfield's headquarters in Chennai, introducing cost-cutting measures and product upgrades.{{cite news|last1=Sinha|first1=Vivek|title=Enfield strikes at Lightning, to fly Thunderbird|url=http://articles.economictimes.indiatimes.com/2002-09-28/news/27329902_1_royal-enfield-motors-siddhartha-lal-new-model|access-date=30 October 2015|work=The Economic Times|agency=Times News Network|date=28 September 2002|quote=Manufacturing at the Jaipur plant, which has a capacity to produce 13,000 mobikes, is under suspension and according to the plan it is expected to resume operations as soon as the Chennai plant achieves full capacity utilisation.|archive-date=18 October 2015|archive-url=https://web.archive.org/web/20151018034419/http://articles.economictimes.indiatimes.com/2002-09-28/news/27329902_1_royal-enfield-motors-siddhartha-lal-new-model|url-status=dead}} "Honestly, at age 26, it seemed a fun thing to do. I could eat, sleep, ride and talk motorcycles," Lal said in a 2015 interview. To solve the issues in Royal Enfield, Lal brought in a new client servicing team to address the concerns of motorcycle dealers and he used his engineering knowledge to improve the motorcycle engines, which resulted in the company increasing its sales.

In January 2004, Lal was appointed as the chief operating officer (COO) of Eicher Motors.{{cite news|last1=Karmali|first1=Naazneen|title=India's Vintage Motorcycle Royal Enfield Is On Full Throttle|url=https://www.forbes.com/sites/naazneenkarmali/2015/06/24/indias-vintage-motorcycle-royal-enfield-is-on-full-throttle/|accessdate=27 November 2015|work=Forbes Asia|date=July 2015|quote=In 2004 he took charge of running the group, which was then a collective of several businesses. He sold all but two, including the legacy tractor unit, to focus on motorcycles and trucks.|archive-date=3 October 2015|archive-url=https://web.archive.org/web/20151003173647/http://www.forbes.com/sites/naazneenkarmali/2015/06/24/indias-vintage-motorcycle-royal-enfield-is-on-full-throttle/|url-status=live}} In 2005, he sold 13 of the 15 businesses of Eicher Motors and decided to allocate resources to Royal Enfield and the trucks business. Lal took this decision as he thought that in these two businesses, his business could become market leaders. In May 2006, Lal took over as the chief executive officer (CEO) and managing director (MD) of Eicher Motors. In 2008, he transferred Eicher Motors' truck business was transferred to VE Commercial Vehicles (VECV), which is a joint venture with Volvo, a Swedish automotive company.{{Cite news |last=Philip |first=Lijee |date=9 September 2015 |title=Meet Siddhartha Lal, the man who turned around Royal Enfield into Eicher Motors’ profit engine |url=https://economictimes.indiatimes.com/meet-siddhartha-lal-the-man-who-turned-around-royal-enfield-into-eicher-motors-profit-engine/articleshow/46461712.cms? |access-date=21 January 2025 |work=The Economic Times |issn=0013-0389 |archive-date=11 April 2022 |archive-url=https://web.archive.org/web/20220411070520/https://economictimes.indiatimes.com/meet-siddhartha-lal-the-man-who-turned-around-royal-enfield-into-eicher-motors-profit-engine/articleshow/46461712.cms |url-status=live }} Lal's reason for forming a joint venture with Volvo was to become one of the largest competitors in India's truck market. He also convinced Volvo to make its 160 hp to 300 hp engines for light and medium trucks through their joint venture by convincing Volvo of using the low engineering costs in India to help with the returns from the exports of the engines.{{Cite web |last=Surendar |first=T. |date=5 November 2011 |title=The talented Mr. Lal |url=https://www.fortuneindia.com/people/the-talented-mr-lal/100961 |access-date=22 January 2025 |website=Fortune India |language=en |archive-date=23 January 2022 |archive-url=https://web.archive.org/web/20220123000353/https://www.fortuneindia.com/people/the-talented-mr-lal/100961 |url-status=live }} Later, Lal also secured a concession from Volvo, allowing Eicher Motors to use some of the engines that VECV was manufacturing for Volvo in Eicher Motors' heavy-duty vehicles in India. This was significant because Eicher Motors had faced challenges in developing its own engines for use in the company's trucks. In 2019, Lal stepped down as the CEO of Royal Enfield.{{Cite web |last=Banerji |first=Sumant |date=11 December 2012 |title=Bullet Raja |url=https://www.businesstoday.in/specials/best-ceos-2019/story/bullet-raja-siddhartha-lal-md-eicher-motors-241078-2019-12-11 |access-date=22 January 2025 |website=Business Today |language=en}}

In August 2021, during the annual general meeting of Eicher Motors, shareholders of the company rejected Lal's reappointment as MD due to disagreements about an increase in his remuneration.{{Cite web |last=Gopalan |first=Krishna |date=20 August 2021 |title=Shareholders’ activism: Why the Siddhartha Lal episode is a wake up call for all companies |url=https://www.businesstoday.in/auto/story/shareholders-activism-why-the-siddhartha-lal-episode-is-a-wake-up-call-for-all-companies-304816-2021-08-20 |access-date=22 January 2025 |website=Business Today |language=en |archive-date=10 July 2023 |archive-url=https://web.archive.org/web/20230710084024/https://www.businesstoday.in/auto/story/shareholders-activism-why-the-siddhartha-lal-episode-is-a-wake-up-call-for-all-companies-304816-2021-08-20 |url-status=live }} In September 2021, Eicher Motors once again approached shareholders to reappoint Lal as MD and with a revised remuneration plan.{{Cite web |last=Baggonkar |first=Swaraj |date=27 September 2021 |title=Siddhartha Lal’s pay: Eicher Motors approaches shareholders again |url=https://www.moneycontrol.com/news/technology/auto/siddhartha-lals-pay-eicher-motors-approaches-shareholders-again-7511471.html |archive-url=https://web.archive.org/web/20220903064746/https://www.moneycontrol.com/news/technology/auto/siddhartha-lals-pay-eicher-motors-approaches-shareholders-again-7511471.html |archive-date=3 September 2022 |access-date=22 January 2025 |website=Moneycontrol |language=en-US |url-status=live }} In October 2021, the company's shareholders approved Lal’s reappointment as MD and his remuneration package for the next 5 years.{{Cite web |last=Srivastava |first=Vikas |date=26 October 2021 |title=Eicher Motors shareholders approve Siddhartha Lal’s reappointment, remuneration for next 5 years |url=https://www.financialexpress.com/auto/industry/eicher-motors-shareholders-approve-siddhartha-lals-reappointment-remuneration-for-next-5-years/2356841/ |access-date=22 January 2025 |website=Financial Express |language=en |archive-date=30 November 2021 |archive-url=https://web.archive.org/web/20211130054918/https://www.financialexpress.com/auto/industry/eicher-motors-shareholders-approve-siddhartha-lals-reappointment-remuneration-for-next-5-years/2356841/ |url-status=live }} In February 2025, Lal was appointed as the Executive Chairman of Eicher Motors.{{Cite web |date=12 February 2025 |title=Siddhartha Lal to be executive chairman of Eicher Motors |url=https://www.financialexpress.com/business/express-mobility-siddhartha-lal-to-be-executive-chairman-of-eicher-motors-3745315/ |access-date=9 June 2025 |website=The Financial Express}}

Siddhartha Lal relocated from Delhi{{cite news|last1=Das|first1=Biprorshee|title=Royal Enfield customers have a different take on life, says CEO Siddhartha Lal|url=http://economictimes.indiatimes.com/magazines/panache/royal-enfield-customers-have-a-different-take-on-life-says-ceo-siddhartha-lal/articleshow/47183763.cms|accessdate=28 November 2015|work=The Economic Times|date=7 May 2015|archive-date=10 May 2015|archive-url=https://web.archive.org/web/20150510070653/http://economictimes.indiatimes.com/magazines/panache/royal-enfield-customers-have-a-different-take-on-life-says-ceo-siddhartha-lal/articleshow/47183763.cms|url-status=live}} to London,{{cite news|last1=Madhavan|first1=N.|title=Siddhartha Lal: The braveheart|url=http://forbesindia.com/article/leadership-awards-2015/siddhartha-lal-the-braveheart/41235/0|accessdate=28 November 2015|work=Forbes India|date=16 October 2015|quote=He has unleashed a burst of activity in London to leverage its British heritage and design products (Royal Enfield has a development centre there) that appeal to the global audience.|archive-date=8 December 2015|archive-url=https://web.archive.org/web/20151208053959/http://forbesindia.com/article/leadership-awards-2015/siddhartha-lal-the-braveheart/41235/0|url-status=live}} in August 2015, in order to be close to Royal Enfield's new R&D centre in Leicestershire.{{cite news|last1=Philip|first1=Lijee|title=Royal Enfield's Siddhartha Lal seeks to replicate India's success in overseas markets|url=http://auto.economictimes.indiatimes.com/news/two-wheelers/motorcycles/royal-enfields-siddhartha-lal-seeks-to-replicate-indias-success-in-overseas-markets/49084494|accessdate=28 November 2015|work=ET Auto|publisher=The Economic Times|date=24 September 2015|quote=The shift was surprising because Eicher, which owns the famous motorbike maker Royal Enfield, has a manufacturing base in Chennai and headquarters in Gurgaon.|archive-date=9 November 2015|archive-url=https://web.archive.org/web/20151109004302/http://auto.economictimes.indiatimes.com/news/two-wheelers/motorcycles/royal-enfields-siddhartha-lal-seeks-to-replicate-indias-success-in-overseas-markets/49084494|url-status=live}} "We are in the process of developing engines for the international markets and lots of developmental work is happening in the UK. It is for that I have decided to move to the UK for one year," he said.{{cite news|title=Why Eicher Motors Siddhartha Lal Is Moving to UK|url=http://profit.ndtv.com/news/corporates/article-why-eicher-motors-siddhartha-lal-is-moving-to-uk-784214|accessdate=28 November 2015|work=NDTV Profit|agency=Press Trust of India|date=22 July 2015|archive-date=27 November 2015|archive-url=https://web.archive.org/web/20151127164802/http://profit.ndtv.com/news/corporates/article-why-eicher-motors-siddhartha-lal-is-moving-to-uk-784214|url-status=live}}{{cite news|title=Royal Enfield's Siddhartha Lal will move to UK to strengthen bike business|url=http://www.dnaindia.com/money/report-royal-enfield-s-siddhartha-lal-will-move-to-uk-to-strengthen-bike-business-2106990|accessdate=28 November 2015|work=Daily News and Analysis|agency=Press Trust of India|date=22 July 2015|archive-date=9 December 2015|archive-url=https://web.archive.org/web/20151209064219/http://www.dnaindia.com/money/report-royal-enfield-s-siddhartha-lal-will-move-to-uk-to-strengthen-bike-business-2106990|url-status=live}}

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Category:1973 births

Category:Alumni of the University of Leeds

Category:Alumni of Cranfield University

Category:Businesspeople from Delhi

Category:Living people

Category:St. Stephen's College, Delhi alumni

Category:The Doon School alumni

Category:Indian chief operating officers

Category:Eicher Motors