Sunil Munjal, Joint managing director of Hero MotoCorp and Chairman Hero Corporate service will leave the board of company on 16th August this year, when his tenure as Joint Managing Director ends.

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In a filing to the Bombay Stock Exchange (BSE), Hero MotoCorp said,
"Keeping with the core values of the Hero Group as established by the late Dr Brijmohan Lall Munjal, the members of BML Munjal family have decided to realign their businesses to achieve future growth and expansion."
As per company statement - Sunil Munjal has expressed his desire to step down as joint MD once his tenure comes to an end on August 16, 2016. He will now focus on his independent core business and will pursue new business interests.

Hero MotoCorp said,
"This realignment will not impact the overall promoter shareholding, strategic direction or operational management of the company."
News Source: Sunil Munjal steps down as Hero MotoCorp Joint MD | ET Auto