Two senior exits at Hero Moto, weeks after CEO Niranjan Gupta stepped down

Hero MotoCorp

India's largest two-wheeler maker Hero MotoCorp's HR Head for Talent Management Sameer Pande along with one other senior official have resigned from their respective roles. Aside of the HR Head of Talent, the other official to step down was Reema Jain, the Chief Information & Digital Officer and member of the executive management team.

The development likely weighed on the shares of Hero MotoCorp which remained under pressure, ending near day's low, down close to 0.7% on March 19.

"Individual people's movements or exits are a part of operations in a large, dynamic organisation like ours. Other than as per statutory requirements, Hero MotoCorp does not comment on individual people's movements," a company statement has said with citing the reason for their exits.

The latest exits come after Hero MotoCorp's Chief Executive Officer (CEO) Niranjan Gupta resigned earlier this year, with April 30 being his last working day. Vikram Kasbekar, Executive Director (Operations) has been appointed the Acting Chief Executive Officer with effect from May 1, 2025.

Hero MotoCorp, India's largest two-wheeler manufacturer, has been under scrutiny over governance standards since 2023, however, earlier this month, sources told Moneycontrol that the Ministry of Corporate Affairs (MCA) found no breach of corporate governance or fund violation by the automobile major, almost two years after it ordered a probe against the company.

Hero MotoCorp shares hit a 52-week low of Rs 3,462 per share on March 17, currently down over 43 percent from its 52-week high of Rs 6,246 per share, which it had hit in September last year.