John Kuttukaran Paul, the whole‑time director of Popular Vehicles and Services Ltd, quit the board on October 8, 2026 with immediate effect, according to a filing the company sent to the BSE and NSE that day.
The resignation followed a family settlement reached on October 1, 2026, which the promoters said would allow each member to pursue independent goals while keeping operational control in the hands of Francis K. Paul and Naveen Philip.
In his letter to the board, Paul explained that differing visions among family members had prompted the agreement, and that his departure was purely a result of that settlement—no other issues were cited.
For customers and investors, the move is a warning sign. Popular Vehicles has long relied on a single family’s leadership to steer its product roadmap; the split could mean delays in approving new models or revising existing ones, especially as the company is rumored to be working on a mid‑size SUV slated for a 2027 launch.
The company’s stock fell 30% within hours of the announcement, a drop that already eroded confidence among potential buyers planning to wait for the upcoming SUV.
Looking ahead, the brand will need to reassure dealers and consumers that its supply chain and after‑sales network remain intact. The new leadership structure will take effect immediately, but the first public updates on vehicle timelines are expected in the next quarterly report.