Pawan Munjal Reappointed Hero MotoCorp Chief

New Delhi: Two-wheeler market leader Hero MotoCorp on Tuesday reappointed Pawan Munjal as its chairman, managing director and CEO for a period of five years and also elevated its head of operations and supply chain Vikram Kasbekar as a director on the company's board.

Mr Munjal's current tenure comes to an end on September 30 this year. He has been leading the company over the past several years in a highly competitive and volatile market, not to just consolidate market leadership but also expand global footprint across continents, the company said in a statement.

The company said Mr Kasbekar's elevation to the board of directors is a part of its initiative aimed at consolidation of leadership at home and accelerate global expansion. 

Besides, Hero MotoCorp said it has appointed Neerja Sharma as company secretary and chief compliance officer.

Commenting on the announcements, Mr Munjal said, "The elevation of Vikram to the board and the appointment of Neerja demonstrates our commitment to expand our business aggressively by attaining new levels of growth, while we continue to maintain the highest standards of governance."

Mr Kasbekar has been with the company for close to 14 years in two stints and has over four decades of experience in operations, supply chain, manufacturing and project engineering, it said.

Consequent to Mr Kasbekar's elevation, Hero MotoCorp head of strategic sourcing and supply chain Neeraj Mathur will now report directly to the CMD and CEO, the company said. 

The changes come days after Sunil Kant Munjal, former joint managing director of the company, announcing his decision to leave Hero MotoCorp, headed by his elder brother Pawan, to focus on some other group entities besides pursuing his other interests.