Hero Karizma, Xtreme dispatch commences: Pawan Munjal named VP

In its latest move to improve overall organizational structure, Hero MotoCorp has promoted Pawan Munjal from his current post of Managing Director to the post of Vice Chairman of Hero MotoCorp.

Pawan Munjal named VPHero MotoCorp, owned by Brijmohan Lall Munjal family keeps succession plans within the family itself. Pawan Munjal, 59, is third son of Brijmohan Lall Munjal and was till this promotion MD and CEO of the company actively involved in its every day affairs. He is assisted by his younger brother Sunil Munjal who is joint MD of Hero MotoCorp and Chairman of Hero Corporate Services.

The promotion has received sanctions at a recent board meeting of the company during which the first quarter results of the company were also declared. Hero MotoCorp has seen an elevation in net profits by 3% during the April-June quarter. Profits stood at INR 563 crores as compared to INR 549 crores in the same period last year while net sales increased 14% to INR 7,036 crores from INR 6,160 crores in the year ago period.

Pawan Munjal has been at the helm even prior to the company parting ways with their Japanese counterparts. The company separated from Honda Motor Co in 2011 and has ever since then augmented its global presence in a total of 18 countries across the globe which also include Peru, Guatemala, Turkey and Egypt.

Hero MotoCorp has just launched the Passion PRO TR at a price of INR 53,551. The new bike is rich in features and comes in with three paint schemes and a host of new features to include off roading tyres, head lamp grille, enhanced front fender, new knuckle guards and side mirrors. It is powered by a four-stroke, single-cylinder 97cc engine that produces 7.7bhp and 8Nm of torque and is the same engine that powers the regular Passion Pro. The company also gears up for launch of the Splendor Pro Classic next month which will be their first café racer model. Apart from this, they have also announced the commencement of dispatch of three new bikes – Karizma, ZMR and Xtreme.