Apollo Tyres' Leadership Takes Pay Cut Due to COVID-19 - Tire Review Magazine

Apollo Tyres’ Leadership Takes Pay Cut Due to COVID-19

The chairman and managing director, Onkar S. Kanwar, and the vice chairman and managing director, Neeraj Kanwar, have announced a 25% reduction in their salaries.

The Apollo Tyres leadership team is taking a voluntary reduction in pay due to the impact of COVID-19 on the automotive industry.

The chairman and managing director, Onkar S. Kanwar, and the vice chairman and managing director, Neeraj Kanwar, have announced a 25% reduction in their salaries. In addition, senior management has also taken a voluntary reduction in their salary by 15% due to the rapidly deteriorating market conditions caused by the COVID-19 pandemic.

Commenting on this, Kanwar said: “This is an incredibly difficult time for our employees and their families. We are in unchartered waters but as ‘one family’ we will work together and make the necessary sacrifices to steer Apollo Tyres in the right direction, to overcome this period. We are experiencing slowing demand and disrupted supply chains due to COVID-19. We are working on further measures which we will provide updates on, as we make final decisions.”

You May Also Like

Team Falken secures podium finishes at NorCal Rock Racing Round 2 event

Justin Hall secured a first-place finish in the 4500 class racing with the Wildpeak R/T tires and Edwin Abd of ABD Motorsports took third.

Team-Falken-podium-finish

Team Falken driver Justin Hall secured a first-place finish in the 4500 class racing with the Wildpeak R/T race tires in the 4500 class and Edwin Abd of ABD Motorsports took third in the 4400 class racing with the Wildpeak M/T race tires.

At the start of the event, Hall was unable to participate in the qualifying race due to one of his crank seals pushing out. To resolve the issue, he put silicone on it and let it set overnight so it would be good to go for the main races. Not participating in the qualifying heat put him behind the competition in the first heat. Team Falken said starting from the back was only a minor inconvenience for Hall. Throughout the whole race, the silicone held up well and Justin was able to pass the competition in the first heat, securing a first-place lead.

Apollo Tyres Onkar Kanwar receives lifetime achievement award

All India Management Association’s Managing India Awards aim to recognize those who have made a difference, creating an edge above peers.

AIMA-Awards-Apollo-Tyres
Sun Auto Tire & Service acquires 33 Caliber Auto Care locations in Texas

The 33 Caliber Auto Care locations are spread across Dallas, Houston, and San Antonio.

Caliber-Auto-care-Sun-Auto
Goodturn Tire & Auto launches platform with 24 locations

Goodturn is a family of brands that provide automotive and tire repair and maintenance services, serving approximately 90k customers in 2023.

Hunter’s new Hunter University is designed to train customers, techs and instructors

The online courses are generally presented in five-minute segments.

PR-Training-Hunter-University-1400

Other Posts

Apollo Tyres expands Vredestein Pinza HT and Ultrac Vorti i sizes

Vredestein Pinza HT has been introduced for premium SUVs in India in 16- to 18-in. sizes, while the Ultrac Vorti i has been expanded for luxury SUVs by introducing it in 21- and 22-in. sizes.

Apollo-Ultrac-Vorti-i-launch
Apollo Tires US recalls certain Vredestein, Quatrac tires

Dealers will replace the tires free of charge.

Recall
Discount Tire, Major League Soccer (MLS) announce multiyear partnership

Discount Tire has also struck a partnership to be the official tire retailer of Inter Miami CF and is collaborating with Continental Tire.

Discount-Tire-MLS-sponsorship
Net Driven acquires CarCareConnect

With this acquisition, CarCareConnect customers will gain access to Net Driven’s suite of digital storefront and digital marketing solutions.

Handshake agreement