Mass senior exits reported at Hero Moto, weeks after CEO Niranjan Gupta stepped down:-moneycontrol news

 

India's largest two-wheeler maker Hero MotoCorp's HR Head for Talent Management Sameer Pande and four other senior officials have resigned from their respective roles, CNBC-TV18 reported citing industry sources. The unconfirmed development likely weighed on the shares of Hero MotoCorp which remained under pressure, ending near day's low, down close to 0.7%.

The report noted that the officials handled key functions at the company, including electric mobility and human resources. It however didn't mention the reason for their exits. Moneycontrol is yet to independently verify the development.

The four other top officials who have tendered their resignation include:

• Reema Jain, Chief Information & Digital Officer and member of the executive management team
• Swadesh Srivastava, Chief Business Officer, Emerging Mobility BU & Chair, Innovation Council
• Dharm Rakshit, Head of HR
• Chandrasekar Radhakrishnan, Head of Business Growth, Emerging Mobility

The latest spate of 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.