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Pawan Munjal has been appointed as the new chairman of
Hero Motocorp, worlds largest two-wheeler manufacturer.
Munjal belongs to the promoter family of the Hero
Motocorp. He has succeeded his father Dr. Brijmohan Lal
Munjal as the Chairman.
The board of the company held a meeting on the desire
expressed by Dr. Brijmohan Lal to retire from his duties,
where the board unanimously decided the appointment of
Pawan Munjal as the new chairman. Dr. Brijmohan Lal
decided to continue to be a part of the company on the
request of the board. He will be continuing as the nonexecutive director. Dr. Brijmohan has been the chairman
of Hero Motocorp since the companys establishment in
Under Pawan Munjal, Hero Motocorp has been the largest
two-wheeler manufacturer in terms of unit volumes sold.
Munjal took over as the MD and CEO of the company in
2001. Even in a highly competitive market, hes guided
the company to not just consolidate its leadership status
but also to expand global footprint worldwide. Hero
commands 50% of the share in domestic motorcycle
market in India. Hero Motocorp sold a record 6.63 million
units in financial year 2015, its highest ever annual sale.