Hero MotoCorp appoints Niranjan Gupta as new CEO

The Board of Hero MotoCorp has appointed Niranjan Gupta as the new chief executive officer of the company, effective from May 1, 2023. He has been elevated from his current position as chief financial officer (CFO), Head – Strategy and M&A. Dr Pawan Munjal will continue as executive chairman and whole-time director on the Board. The company will announce a new CFO in due course.

Gupta has over 25 years of rich leadership experience in finance, mergers and acquisition, supply chain and strategy roles across business sectors, including Consumer Goods, Metals & Mining and Automobiles. He also serves as a director on the Board of Ather Energy, HMC MM Auto Private Limited, and HMCL Colombia. Prior to Hero MotoCorp, Niranjan spent three years at Vedanta Limited and 20 years at Unilever across global roles.

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 focus on global expansion, premium segment and electric mobility.”

The company said in its statement, "Over the past six years, Niranjan has played a key role in shaping the financial health of the company by navigating it through a highly competitive and ever-evolving environment. He has also played a significant role in forging key partnerships with global brands such as Harley-Davidson and Zero Motorcycles."

Commenting on the new 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 organisation’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 in 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,” Dr Munjal added.

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