Pune, India: Cummins India Limited, one of the leading power solutions technology providers, announces that its Board of Directors has appointed Shveta Arya as Additional Director and Managing Director (Nominee) effective August 8, 2024. Shveta Arya will begin full-time as Managing Director of Cummins India Limited effective September 1, 2024, subject to shareholder approval via postal ballot.
She succeeds Ashwath Ram, who will remain with the company until the close of business on August 31, 2024. Under his leadership, the company has delivered profitable growth and successfully navigated multiple challenges, including COVID-19.
Shveta leads Cummins India Limited’s Power Systems business and will continue to hold this portfolio after her appointment as Managing Director. As a business leader, she has driven the growth and expanded market presence of the Power Generation and Industrial businesses serving Indian and global markets. She also led the successful launch of the CPCB IV+ product series, which was introduced in July 2023 and features one of the world’s most stringent emission standards for backup power generation. Previously, as leader of Cummins’ distribution business in India, Shveta developed a five-year growth vision that is expected to significantly expand revenues during her tenure.
Welcoming the new leader, Ashwath Ram, Managing Director, Cummins India Limited, said, “We are excited to welcome Shveta as the next Managing Director of Cummins India Limited. As a business leader in Power Distribution and Power Systems, she has played a key role in our company’s growth journey. Her strategic mindset, customer centricity and commitment to our core values are perfectly suited to lead the company to even greater heights. We wish her every success in this new role.”
Commenting on the appointment, Shveta Arya, Managing Director (Elect) and Business Leader, Power Systems said, “It is an honour and privilege for me to lead an organisation like Cummins India Limited, which has a glorious heritage of driving India’s growth for over six decades. Under Ashwath’s leadership, the organisation has grown exponentially over the last five years and I am committed to leading the company into its next phase of growth and delivering on our brand promise of innovation and reliability.”
Shveta holds a Masters in Engineering from the Indian Institute of Management Ahmedabad (IIMA) and a Bachelor’s in Engineering in Information Technology from the University of Delhi. She has over 20 years of industry and management consulting experience across automotive, travel, financial services and telecommunications. Prior to joining Cummins as Head of Strategy in 2016, she worked with organizations such as Thomas Cook, Kearney and Infosys.
About Cummins India Limited:
Founded in 1962 and headquartered in Pune, Cummins India Limited (NSE: CUMMINSIND | BSE: 500480) is one of the leading power solutions providers in India. The oldest and largest Cummins entity in India, the company is involved in power generation, aftermarket and export businesses. The company has a strong manufacturing base and has six state-of-the-art manufacturing, assembly and distribution facilities. With over 480 customer touchpoints, the company strives to help customers succeed and provide easy access to services and solutions. The company has over 3,000 employees whose expertise and dedication help Cummins India deliver on its mission of “Making people’s lives better by empowering the world to flourish”.
