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Hero MotoCorp Executive chairman Brijmohan Lal Munjal stepped aside and took up a non-executive role, making Pawan Munjal the new Chairman Managing Director and CEO.
The 92 years old Brijmohan Lal Munjal will remain on board as Non-Executive member in the 4 Billion USD group. The changes had been approved by the board and came into effect on 1st June 2015.
Company official in a statement said:
The 92 years old Brijmohan Lal Munjal will remain on board as Non-Executive member in the 4 Billion USD group. The changes had been approved by the board and came into effect on 1st June 2015.
Company official in a statement said:
"With this transition, the top leadership succession plan, which was initiated in August last year with the elevation of Munjal as Vice Chairman, has come to its logical conclusion. While accepting this offer the Board requested Brijmohan Lal Munjal to continue to be the guide and mentor of the company in the form of Chairman Emeritus, which he accepted."
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