Hero MotoCorp - Pawan Munjal appointed as New Chairman

Hero MotoCorp Ltd (HMCL) announced that Pawan Munjal has been elevated to the position of chairman of the country’s largest two-wheeler manufacturer. Pawan Munjal takes over the reins from Brijmohan Lall who will continue to be associated with Hero MotoCorp as chairman emeritus. Brijmohan Lall will continue to be part of the board as a non-executive director for Hero. The decision to promote Pawan Munjal as the chairman of Hero MotoCorp was taken by the company’s board today unanimously approved his new appointment. According to Hero, the decision was taken after Brijmohan Lall put forward his desire to relinquish his duties as the executive chairman of the company a post he has held from the inception of Hero MotoCorp in 1984. 

The Board took up this matter during its meeting today as per the desire expressed by Dr. Brijmohan Lall to relinquish his duties as the Executive Chairman of the company. While accepting his offer, the Board requested him to continue to be the guide and mentor of the company in the form of Chairman Emeritus, which he accepted. Dr. Brijmohan Lall will continue to be part of the Board as a non-executive Director. From the time he was promoted as MD & CEO, Hero MotoCorp has remained the world’s largest two-wheeler manufacturer in terms of unit volumes sold in a calendar year by a single company since 2001. Hero also announced that it sold a record 6.63 million units in the financial year 2015 (Apr 2014-March 31 2015) – its highest-ever annual sales.