Hero MotoCorp Investors Thrilled with New CEO Appointment, Shares Upbeat

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Shares of Here MotoCorp continued gaining for the second straight session on Friday as the company announced the appointment of a new CEO.

What Happened: The two-wheeler major on Thursday announced Niranjan Gupta as the new Chief Executive Officer. Gupta is currently Chief Financial Officer (CFO), Head – Strategy and M&A, and will ascend to the CEO post from May 1.

He will be replacing the current CEO Pawan Munjal, who will continue as Executive Chairman and Whole-time Director on the Board. Gupta has over two decades of experience in finance, mergers &
acquisition, supply chain, and strategy roles and has worked with the Vedanta Group and Unilever before joining the automobile company.

See also: Tata Motors Hikes Some Vehicle Prices And Investors Are Loving It

Gupta has been with the company for six years now, and as per the company played a significant role in forging key partnerships with global brands such as Harley Davidson and Zero Motorcycles.

His ascension will leave the CFO position vacant. The company has said that it will announce a replace for the position in due course of time.

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Price Action: Hero MotoCorp shares were up 1.05% to trade at ₹2,327.55 as the markets opened for business on Friday.

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Posted In: MoversTrading Ideasautomobile industryHero Motocorp