Hero MotoCorp CEO Niranjan Gupta to step down effective April 30
Just a few days before its third quarter (Q3FY25) results, country’s largest two-wheeler manufacturer, Hero MotoCorp on Friday said Niranjan Gupta has stepped down as the Chief Executive Officer (CEO) of the company effective April 30, 2025.
The Board at its meeting held on Friday has approved the appointment of Vikram Kasbekar, Executive Director, as the Acting CEO effective May 1, 2025, it said adding that Gupta has stepped down “to pursue other opportunities”.
Global alliances
“Since joining Hero in 2017, Niranjan has strengthened our financial resilience, forged global alliances and laid the foundation for the House of Strategy that defines our future growth journey. His leadership has been pivotal in steering the company towards new frontiers,” Pawan Munjal, Executive Chairman, Hero MotoCorp, said.
An industry veteran with experience spanning research and development, operations, supply chain, and engineering, Kasbekar will guide the organisation and leadership through this transition until a new CEO is appointed, Munjal said.
The ‘Splendor+’ maker has also announced the changes in the senior management personnel including Ram Kuppuswamy, Chief Procurement Officer whose role will be expanded to Chief Operations Officer (COO) – Manufacturing (effective April 1); Ashutosh Varma, National Sales Head – India Business Unit (IBU), elevated as the Chief Business Officer – IBU (effective May 1); and Jyoti Singh, Head HR – R&D, who gets additional role of Deputy Chief Human Resources Officer (effective February 1).
“They will lead the respective functions to accelerate the company’s future growth strategy. Committed to our vision of sustainable innovation, our EV & Emerging Mobility Business Unit (EMBU) will transition into a fully independent and empowered unit, effective February 1, 2025, leading the EV revolution and next‐generation mobility,” Munjal added.
‘Right time to explore new challenges’
Niranjan Gupta, who worked for eight years in Hero MotoCorp said while his decision to pursue other opportunities has been difficult, but he believed it was the right time to explore new challenges. “It has been an honour to serve first as Chief Financial Officer and then as the Chief Executive Officer of Hero MotoCorp,” he said.
Having joined Hero in 2001, Kasbekar served in key roles such as Head of Operations, Head of Supply Chain and as Chief Technology Officer before becoming the first employee of the company to be elevated to the position of a Director on the Board.
He is also a member of various Board committees, namely the Risk Management, Committee of Directors and Stakeholders’ Relationship Committee. Kasbekar, a Mechanical Engineer from IIT-Madras, is also on the Board of Hero MotoCorp Joint Venture (JV) companies such as HMC MM Auto Limited and HMCL Niloy Bangladesh Ltd.
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