Meet the new CMD of Hero Motors Group, Pankaj Munjal

Hero Motors Group said on Monday that it has elevated Pankaj Munjal as its chairman and managing director (CMD).

Pankaj Munjal has taken over from O P Munjal, who led the Ludhiana-based company for over 60 years, PTI reported, citing a statement by Hero Motors Group.

Further, O P Munjal has now been elevated to the position of Chairman Emeritus, according to the statement.

Pankaj Munjal joined the group as a trainee in 1988. In December 2011, he was appointed as its co-chairman and managing director.

The group comprises cycle major Hero Cycles, auto parts manufacturing companies -- Hero Motors Ltd, ZF Hero Chassis Systems and Munjal Kiriu Industries -- hospitality arm Munjal Hospitality and luxury home decor products company Oma Livings.

Incorporated in 1956, Hero Cycles is the largest cycle manufacturer in the world. The company has a manufacturing capacity of 7.5 million bicycles per year, with its unit in Ludhiana (Punjab), Bihta (Bihar) and Ghaziabad (UP).

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