Hindustan Motors' Moloy Chowdhury Resign from his position as CEO

India’s one of the oldest carmakers – Hindustan Motors today announced that its Chief Executive Officer Moloy Chowdhury has resigned from the company. The resignation has been carried out with immediate effects and today was his last day as the CEO of Hindustan Motors, the maker of the now discontinued iconic 'Ambassador' car.

In a statement filed by the company at Bombay Stock Exchange (BSE), Hindustan Motors said, “Mr. Moloy Chowdhury, the Chief Executive Officer of the company has resigned from the services with effect from close of business hours on June 15, 2015 i.e. today.” Mr. Chowdhury had taken over the reins as the CEO of the company on May 10, 2014, being associated with the company for a little over one year.

Earlier May 24, 2014 Hindustan Motors stopped producing the Ambassador car after the production at company’s sole and largest facility in Uttarpara, West Bengal was suspended. But the company had also reported that, HM is scouting for new investors to revive its loss-making Uttarpara plant. Havign said that it has been more than one year since the announcement and there has been no development since. As for whether we will be able to see the iconic Ambassador on the Indian roads again is still a question left unanswered.

With inputs from PTI