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.

Autocar Pro News Desk By Autocar Pro News Desk calendar 14 Aug 2023 Views icon1577 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp

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
Tata Motors inaugurates vehicle scrapping facility in Surat

auther Autocar Pro News Desk calendar23 Sep 2023

The state-of-the-art facility uses environmentally friendly processes and has the capacity to disassemble 15,000 end-of-...

Aprilia RS 457 pre-bookings to commence soon

auther Autocar Pro News Desk calendar23 Sep 2023

No prices for the RS 457 has been announced yet.

Hero MotoCorp backed Ather Energy faces Rs 864.50 crore net loss

auther Autocar Pro News Desk calendar23 Sep 2023

Operating revenues surge by 336.62% in FY23.