Several senior executives at Hero MotoCorp have reportedly resigned amidst growing challenges for India’s leading two-wheeler manufacturer by volume. Sources familiar with the situation told ET that these resignations have occurred within the past few days.
This exodus follows a month after the company’s townhall, as reported by the financial daily on February 14. During this meeting with approximately 5,000 employees globally, Pawan Munjal, executive chairman, Hero MotoCorp, had said, “I have my eyes on each one of you.” The statement clearly indicated zero tolerance for underperformance.
The company has yet to provide an official response.
Hero’s market position has deteriorated to its lowest point in ten years. In the previous month, Honda Motorcycle and Scooter India surpassed Hero MotoCorp as the market leader. Additionally, the company’s total two-wheeler sales (including exports and electric vehicles) fell below TVS Motor Co for the first time, relegating it to third position. Hero’s total dealer dispatches showed a 17% decrease compared to the previous year.
The departing executives reportedly include Reema Jain — chief information and digital officer and executive management team member, Sameer Pander- (HR head for talent management), Swadesh Srivastava (CBO Emerging Mobility, Vida & Chair innovation council, Dharm Rakshit— head HR and culture change.
Sources suggest additional resignations may follow in the upcoming days. This development emerged shortly after Hero MotoCorp’s chief executive officer, Niranjan Gupta, and chief business officer, Ranjivjit Singh, left the organisation in February.
An insider noted that several of these executives were recruited by Gupta and Singh, explaining their subsequent departure as anticipated.