Hero MotoCorp announces key management changes, additional stake buy in Ather Energy

Hero's stake in Ather Energy will increase to 39.7 percent from 36.6 percent.

Hero MotoCorp, the world's largest two-wheeler manufacturer, said on December 14 that it has appointed Vivek Anand as Chief Financial Officer (CFO) and Rachna Kumar as the Chief Human Resources Officer (CHRO) of the company.

They both will report to CEO Niranjan Gupta, Hero MotoCorp said in an exchange filing.

Anand, a chartered accountant by profession, has almost three decades of diverse industry experience across FMCG, telecom, consumer healthcare and real estate. He last held the position of CFO at DLF Limited since the past four years. His appointment will come into effect from March 1, 2024.

Kumar, who has experience across diverse industries including consumer goods, food & beverages, oil & gas and retail, joins Hero MotoCorp from Whirlpool Asia where she held the position of CHRO, according to the filing. She will join Hero MotoCorp on January 2 next year.

Meanwhile, Pawan Munjal-led Hero MotoCorp separately said it will buy additional stake for up to Rs 140 crore in electric two-wheeler company Ather Energy. With this, Hero's stake in Ather Energy will increase to 39.7 percent from 36.6 percent.

The company will complete additional share buy in Ather Energy by January 31, 2024.

Hero MotoCorp and Ather Energy partnered to establish India's first inter-operable fast-charging network for electric two-wheelers. With this partnership, the nation's 100 cities will be connected to the first-ever interoperable fast-charging network for electric two-wheelers.