Hero MotoCorp Ltd CEO Niranjan Gupta is stepping down from his role “to pursue other opportunities,” India’s largest two-wheeler manufacturer announced in an exchange filing on Friday, January 31, 2025.
His last working day will be April 30, 2025 and Vikram Kasbekar, Executive Director (Operations) has been appointed as the Acting Chief Executive Officer with effect from May 1, 2025, the company said.
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“Being part of Hero MotoCorp’s journey has been an incredibly rewarding experience. I am grateful to Dr. Munjal & the Board of Directors for the privilege of leading this remarkable company,” said Niranjan Gupta. “During my eight years at Hero, I have had the opportunity to work with an exceptional team and contribute to the company’s continued success.”
“As I move on to pursue other opportunities, I extend my best wishes to the entire team at Hero MotoCorp for an optimistic and progressive future,” he added.
This comes after the company had announced in late December 2024 that it had was teaming up with Harley-Davidson to create another all-new motorcycle and will also roll out more versions of the Harley-Davidson X440, which they developed together.
The X440 was the first brainchild of the Hero-Harley collaboration with the partnership actually going as far back as 2020, when Harley Davidson decided to exit local assembly in India due to weak demand, leaving Hero primarily in charge of existing dealerships.
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Vikram Kasbekar, the new acting CEO said, “I am honored to take on the responsibility as the Acting Chief Executive Officer of Hero MotoCorp. Having been a part of this incredible organization for over two decades, I look forward to working closely with our talented team to drive continued growth and innovation. I deeply appreciate the trust placed in me by Dr. Munjal & the Board of Directors; and remain committed to steering the company forward during this transition period. Together, we will build on our strong legacy and keep delivering excellence to all our customers, partners and stakeholders.”
Meanwhile, Ram Kuppuswamy has been promoted to COO ‐ Manufacturing while Ashutosh Varma will be leading the India Business Unit as CBO.
“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,” said Dr. Pawan Munjal, Executive Chairman of Hero MotoCorp. “His leadership has been pivotal in steering the company towards new frontiers. I wish him the very best and all the success for his future.”
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He also added that Hero’s EV & Emerging Mobility Business Unit (EMBU) will transition into a fully independent unit by February 1, 2025.
Jyoti Singh will be taking charge as Deputy CHRO for the EV & Emerging Mobility Business Unit.