Sunil Kant Munjal, Joint
Managing Director, Hero MotoCorp, and Chairman, Hero Corporate Service has
decided to step down from the Board of Directors of Hero MotoCorp, once his
tenure as the Joint Managing Director of the Company comes to an end on August
16, 2016. This was made known through an announcement the company made to the
Bombay Stock Exchange.
In the statement, that had a
tinge of emotional angle to it, the company stated, “With the blessings of Smt.
Santosh Munjal, the matriarch of the Munjal family, Mr. Sunil Kant Munjal,
Joint Managing Director, Hero MotoCorp, and Chairman, Hero Corporate Service,
intends to focus his time and energy on his independent and core businesses,
and to pursue new business interests.”
The company further stated
that "keeping with the core values of the Hero Group as established by the
late Dr. Brijmohan Lall Munjal, the members of the BML Munjal family have
decided to realign their businesses to achieve future growth and expansion.”
Accepting his decision to step
down, the company noted that “We, at Hero MotoCorp, are grateful for his
contribution during his tenure as Joint Managing Director and wish him success
in his new endeavours. “ This realignment will not impact the overall promoter
shareholding, strategic direction or operational management of the Company, the
“On this occasion, Mr Pawan
Munjal, Chairman, Managing Director & Chief Executive Officer, and the
Senior Leadership Team at Hero MotoCorp reiterate their commitment to continue
to build our organisation into a truly world class enterprise in all respects.
We will continue to work in the best interest of all stakeholders of Hero
MotoCorp, including shareholders, employees, suppliers and business associates,"
the statement to the stock exchange said. The official positions Sunil Kant
Munjal currently holds:
Hero Corporate Services
Hero Management Service
BML Educorp Services
Board of Governors of Punjab
Shivam Autotech Limited.
Hero Realty Limited.
Easy Bill Limited.
Hero InvestCorp Limited.
Hero Mindmine Institute
Hero Realty & Infra
Rockman Industries Ltd.
Satyam Auto Components
Hero Future Energies Limited.
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