Hero MotoCorp, renowned as the world’s top two-wheeler maker, is bolstering its leadership team and investing in the future of electric mobility. The company announced the appointment of Vivek Anand as the new Chief Financial Officer (CFO) and Rachna Kumar as the Chief Human Resources Officer (CHRO), both set to report to CEO Niranjan Gupta.
What Happened? Anand, a seasoned chartered accountant, brings nearly three decades of experience in various industries, including FMCG, telecom, and real estate. He transitions to Hero MotoCorp from his role as CFO at DLF Limited and will officially assume his new position on March 1, 2024. Kumar, with her diverse background in consumer goods, food and beverages, and retail, moves from Whirlpool Asia to join Hero MotoCorp on Jan. 2, 2024.
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Rolling the dice: In a parallel strategic move, Hero MotoCorp, led by Pawan Munjal, aims to strengthen its foothold in the electric vehicle (EV) sector by acquiring additional shares worth up to ₹140 crore in Ather Energy. This investment will elevate Hero’s stake in the EV company to 39.7%, marking a significant increase from the current 36.6%. The share acquisition is expected to be completed by January 31, 2024.
This financial move complements Hero MotoCorp and Ather Energy’s collaborative effort to establish India’s inaugural inter-operable fast-charging network for electric two-wheelers.
Price Action: Hero MotoCorp shares were trading 0.68% higher at ₹3,910.00 at midday on Friday.
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