Sunil Kant Munjal exits Hero MotoCorp as Joint MD, as company discloses family agreement
The firm has stated that the division of BML Munjal Group Entities is the reason for Munjal's exit from Hero MotoCorp's top management.
3078 Views
Hero MotoCorp stated in a BSE filing that Sunil Kant Munjal will exit the firm as the Joint Managing Director after disclosing its family settlement agreement from the promoters.
"The Management and Control of Listed Entity vested with the Family Group and Mr. Sunil Kant Munjal resigned as Joint Managing Director in the listed entity," the company said.
"Understanding reached between "Family Group" and Sunil Kant Munjal on the usage of trademark HERO", it further stated.
The firm has stated that the division of BML Munjal Group Entities is the reason for Munjal's exit from Hero MotoCorp's top management. The agreement was entered upon on 27 July, 2016.
RELATED ARTICLES
Moody's downgrades VW on sector headwinds, Chinese competition: Report
Autocar India
17 Mar 2025
The ratings agency noted in a statement that the downgrade reflects a recent contraction in operating margin and free ca...
Endurance Technologies Accepts 57 Separations Under Voluntary Scheme at Maharashtra Plant
Angitha Suresh
17 Mar 2025
The auto component manufacturer will pay out approximately Rs. 106.35 million to implement the Voluntary Separation Sche...
Li-ion Battery Supplier Neuron Energy Targets 10x Growth in 5 years
Yukta Mudgal
17 Mar 2025
The company also aims to generate 30% of its revenue from energy storage applications by 2030, up from around 5% at pres...
