Mr. Pawan Munjal was appointed as the new Chairman, MD and CEO of Hero MotoCorp Limited, leading two wheeler manufacturing company. His appointment was approved by the Board even as Dr. Brijmohan Lall (inset in image below) will continue to offer his guidance and counselling to the company in his capacity as Chairman Emeritus. Dr. Lall has served as the Chairman of the company ever since its inception in 1984.
Mr Pavan Munjal, 60, has been at the helm of Hero MotoCorp for over a decade, he has steered the company ahead where sales are concerned, putting off competition both from India and foreign manufacturers.
Hero MotoCorp has maintained its pole position ever since it has parted ways with Honda four years ago. Munjal has held on to his position over the past 14 years. The company continues to command a 50 percent share in the motorcycle market in India with a total of 6.63 million two wheelers sold in 2014-15.
Hero MotoCorp has expanded its global presence in over 22 countries across Asia, Africa, Central and South America while the company is in the process of setting up two manufacturing units in Columbia and Bangladesh which will be ready for operation by 2015-16. Sales during the past month dipped marginally when the company reported a 5.4 percent fall in sales. In May 2015, Hero MotoCorp sold 569,876 units as compared to 602,481 units sold in May 2014.