Hero MotoCorp appoints Niranjan Gupta as new CEO with effect from May 1

The board of Hero MotoCorp has announced the appointment of Niranjan Gupta as the new Chief Executive Officer (CEO) of the two-wheeler giant with effect from May 1, 2023. Gupta will be elevated from his current position as Hero’s Chief Financial Officer (CFO), Head - Strategy and M&A. Meanwhile, Dr Pawan Munjal continues as Executive Chairman and Whole-time Director on the Board, the company announced in a regulatory filing.

Niranjan Gupta brings over 25 years of leadership experience in finance, mergers and acquisitions, supply chain and strategy across different business sectors including consumer goods, metals and mining, and automobiles. Gupta played a key role in shaping the financial health of Hero over the past six years, especially in the highly volatile environment. Hero further stated that the business leader played a significant role in forging recent partnerships on a global scale with brands like Harley-Davidson and Zero Motorcycles.

Speaking on the appointment, Dr Pawan Munjal said, “Niranjan is a leader with sharp business acumen and a proven track record in delivering strong business results in a highly competitive environment. He has been instrumental in defining the organization’s growth story with his rich and diverse experience across finance, strategy and operational effectiveness in both developed and developing markets. His sharp focus has helped Hero MotoCorp in delivering strong cash flow over the years while ensuring judicious capital allocation. “His elevation to the role of CEO is a testimony to the robust succession planning process we have put in place within the Company. The Board looks forward to his contribution to realising the full potential of Hero MotoCorp as a winning business which delivers long-term growth and value for all its stakeholders. I wish him the very best and all the success in leading the next growth story of this incredible company."

Niranjan Gupta said, "I am delighted to be appointed as the Chief Executive Officer of Hero MotoCorp, the global market leader in motorcycles and scooters. With more than 110 million customers, the brand has an unparalleled reach, providing mobility solutions to the masses. The journey hereon is going to be even more exciting with a focus on global expansion, premium segment, and electric mobility. Our Vision, Mission and Values will continue to be the guiding light towards building the next growth story, as we further consolidate our market leadership while delighting our customers and creating shareholder value. I feel privileged to be leading this company of passionate business leaders committed to realising our vision - “Be the Future of Mobility". I am thankful to the Chairman and the Board of Hero MotoCorp for giving me this opportunity."

In addition to his new role, Niranjan Gupta will continue to serve as the director on the board of Ather Energy, HMC MM Auto and HMCL Colombia. Before joining Hero MotoCorp, Gupta spent three years at Vedanta Limited and 20 years at Unilever. Hero MotoCorp said it will announce a new CFO in “due course of time."