Dr. Pawan Munjal, Executive Chairman and whole time Director of Hero MotoCorp, the world's largest manufacturer of motorcycles and scooters, has volunteered to reduce his fixed salary by 20%.

The updated remuneration of the Executive Chairman will be effective 1 January, 2024. 

Earlier this year, Dr. Munjal decided to separate the roles of Chairman and CEO, and appoint a CEO for the company.  The two-wheeler maker's profit increased 47% to Rs 1,054 crore.