The largest two-wheeler manufacturer in the nation, Hero MotoCorp, announced on Thursday that Niranjan Gupta has been promoted to the position of new CEO (CEO).
With effect from May 1, 2023, Gupta, who is currently the CFO and Head of Strategy and M&A, assumes the role of CEO. According to a regulatory filing from the two-wheeler industry leader, Gupta has been promoted from his existing roles as the business’s CFO, Head of Strategy, and Head of M&A by the board of the company. It further stated that Pawan Munjal would continue to serve as the company’s executive chairman and a full-time director.
The company said it will announce a new CFO in due course of time. “Gupta 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,” Munjal noted. His sharp focus has helped the company in delivering strong cash flow over the years, while ensuring judicious capital allocation, he added.
“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,” Munjal said.
Hero MotoCorp said that over the past six years, Gupta 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, it added.
Gupta has more than 25 years of leadership experience in finance, merger & 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 and HMCL Colombia. Prior to Hero MotoCorp, Gupta spent three years at Vedanta Ltd and 20 years at Unilever across global roles.