The country's largest two-wheeler maker Hero MotoCorp on Thursday said it has elevated Niranjan Gupta as the new Chief Executive Officer (CEO). Gupta, currently designated as Chief Financial Officer (CFO), Head - Strategy and M&A, takes over as the CEO with effect from May 1, 2023.
The company's board has appointed Gupta as the new CEO elevating him from his current position as its CFO, Head - Strategy and M&A, the two-wheeler major said in a regulatory filing.
Pawan Munjal, the present CEO, will continue as executive chairman and whole-time director on the company's board, it added.
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.
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