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Hero MotoCorp appoints Pawan Munjal as new Chairman

Pawan Munjal

 

Pawan Munjal has been appointed as the new Chairman of the world’s largest two-wheeler manufacturer Hero MotoCorp Ltd (HMCL)

The company’s Board has approved Munjal to take charge as the Chairman, Managing Director & Chief Executive Officer of Hero MotoCorp.

According to a statement issued by the company, the Board discussed the matter of appointing Munjal as the new chief of Hero MotoCorp during its meeting convened today following its Executive Chairman Dr Brijmohan Lall expressed his desire to relinquish his duties.

The company’s Board has accepted Lall’s offer. As per Board’s request, Lall will continue as Chairman Emeritus and serve as a non-executive Director in the Board. Lall played a long innings in Hero MotoCorp as the Chairman of the company since its inception in 1984.

With this, 92-year old Brijmohan Lall has passed the baton to his son Pawan Munjal to lead the company, which is already number one player in the world two-wheeler market.

Infact Pawan Munjal was elevated as Vice Chairman in August last year and he was then expected to take charge as the chief of Hero MotoCorp soon.  He has been serving as Managing Director and Chief Executive Officer of Hero MotoCorp since 2001. He remained as the key person behind to the company to expand its global foot prints across the world and known as one of the top industrialist in the country.

Hero MotoCorp enjoys a share of over 50 percent in the Indian motorcycle market. During the financial year 2014-15, the company sold record 6.63 million units two-wheelers – its highest ever annual sales.

 

 

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