TIL Desk/Business/New Delhi-Sunil Munjal has decided to bow out as the joint managing director of Hero MotoCorp, the country’s largest two wheeler maker, five years after he was appointed to the post. In 2011, after Hero and its Japanese partner, Honda, parted ways, he was elevated to this position. Till then, he was a non-executive director on the board of Hero Honda.
Munjal, now 55, will pursue new business interests and lead Hero Corporate Services as its chairman. A statement from the family said Munjal will realign his business and partnership stake in the Hero group with the “blessings of Santosh Munjal, his mother and wife of Brijmohan Lall Munjal, the founder of the group.
Brijmohan died last year. “He will focus on some of the other group businesses, including Hero Corporate Service and its allied companies as the chairman, while he also pursues new business interests,” said the statement. An announcement to stock exchanges said Munjal intends to focus his time and energy on his independent and core businesses, and to pursue new business interests.
