Bengaluru, India, August 14, 2024: Cummins India Limited, one of the leading power solutions technology providers, is pleased to announce that its Board of Directors has appointed Shveta Arya as an Additional Director and the Managing Director (Designate) effective August 8, 2024. Shveta Arya will take up the full-time role as the Managing Director of Cummins India Limited – effective September 1, 2024, subject to approval from shareholders through a postal ballot.
She succeeds Ashwath Ram, who will continue serving the company until August 31, 2024 (close of business hours). Under his leadership, the company achieved profitable growth and successfully navigated multiple challenges, including COVID-19.
Shveta leads the Power System Business for Cummins India Limited – a portfolio she will continue to hold even after her appointment as the Managing Director. As the business leader, she has been driving growth and enhancing market presence for power generation and industrial businesses serving India and the global market. She also successfully led the launch of the CPCB IV+ range of products, which was introduced in July 2023 and features amongst the most stringent emission standards for backup power generation in the world. Previously, as the leader of Cummins’ Distribution business in India, Shveta crafted a five-year growth vision that saw significant revenue expansion during her tenure.
Welcoming the new leader, Ashwath Ram, Managing Director, Cummins India Limited, said, “I am delighted to welcome Shveta as the next Managing Director of Cummins India Limited. As the Business Leader for Distribution and Power Systems, she has played an integral role in the company’s growth journey. Her strategic mindset, customer centricity, and commitment to our core values make her the perfect fit to steer the Company to greater heights. I wish her all the very best in this new assignment.”
Expressing her views on the appointment, Shveta Arya, Managing Director (Designate) and Business Leader – of Power Systems said, “It is both an honor and a privilege for me to lead an organization like Cummins India Limited, which has an illustrious legacy of powering India’s growth for over 60+ years. Under Ashwath’s leadership, the organization has grown tremendously over the last five years. I am deeply committed to steering the company into its next phase of growth and delivering our brand promise of innovation and dependability.”
Shveta holds a master’s from the Indian Institute of Management, Ahmedabad (IIMA) and a bachelor’s in Information Technology engineering from Delhi University. She has over 20 years of industry and management consulting experience in Automotive, Travel, Financial Services and Telecom sectors. Prior to joining Cummins in 2016 as the Head of Strategy, she has been associated with organizations such as Thomas Cook, Kearney and Infosys.