Sunil Munjal to step down as Joint MD, Hero MotoCorp, on Aug 16

Sunil Kant Munjal, Joint Managing Director, Hero MotoCorp, has decided to step down from his post once his tenure comes to an end on August 16, 2016. He intends to focus his time and energy on his independent and core businesses, and to pursue new business interests.

Hero MotoCorp informed the Bombay Stock Exchange about Munjal’s decision, where it stated, “Keeping with the core values of the Hero Group as established by the late Dr Brijmohan Lall Munjal, the members of the BML Munjal family have decided to realign their businesses to achieve future growth and expansion.” 

The statement added, “This realignment will not impact the overall promoter shareholding, strategic direction or operational management of the Company.”

“On this occasion, Mr Pawan Munjal, Chairman, Managing Director & Chief Executive Officer, and the Senior Leadership Team at Hero MotoCorp reiterate their commitment to continue to build our organisation into a truly world class enterprise in all respects. We will continue to work in the best interest of all stakeholders of Hero MotoCorp, including shareholders, employees, suppliers and business associates,” the statement further said.