Having headed Hero MotoCorp for over a decade, Pawan Munjal has now been appointed as the chairman of the Delhi-based two-wheeler manufacturer. Hero MotoCorp’s board unanimously appointed Pawan Munjal as the chairman, CEO and MD of the company to succeed his father, Brijmohan Lall.
This step is a part of the company’s top leadership succession plan which was put into motion last August, with Pawan’s appointment as the vice chairman, CEO and MD. Pawan Munjal played a pivotal role in helping Hero MotoCorp sustain its hold over the Indian market, post its split with the long-term joint venture partner – Honda. Last year, Hero MotoCorp sold a record-shattering 66.3 lakh two-wheelers, which is the highest ever annual sales for the company.
Brijmohan Lall has been the chairman of Hero MotoCorp since the company was first set up in 1984. Having occupied this position for almost 32 years, Pawan Munjal’s father will now continue to guide and mentor the company as the chairman emeritus.
The company released a statement saying: "The board took up this matter during its meeting as per the desire expressed by Dr Brijmohan Lall to relinquish his duties as the Executive Chairman. 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."
