Hero MotoCorp CEO Niranjan Gupta to Step Down on April 30

Niranjan Gupta has resigned as the CEO of Hero MotoCorp, with his departure effective April 30, 2025. The company announced that Vikram Kasbekar, currently the Executive Director (Operations), will take over as acting CEO from May 1, 2025, until a permanent replacement is found.

Management Reshuffle

Along with the CEO transition, Hero MotoCorp has made several leadership changes:

• Ram Kuppuswamy, Chief Procurement Officer, will take on an expanded role as Chief Operations Officer (COO) – Manufacturing from April 1, 2025.
• Ashutosh Varma, National Sales Head – India Business Unit, will become Chief Business Officer (CBO) – IBU from May 1, 2025, replacing Ranjivjit Singh.
• Jyoti Singh, currently Head HR – R&D, will be elevated to Deputy Chief Human Resources Officer on February 1, 2025.

Niranjan Gupta’s Background

Gupta, who joined Hero MotoCorp in 2017, served as CFO before being promoted to CEO in 2023. His tenure included financial restructuring and partnerships with brands like Harley-Davidson. Before Hero MotoCorp, he worked at Vedanta and Unilever.

EV Unit Becomes Independent

Hero MotoCorp announced that its EV & Emerging Mobility Business Unit (EMBU) will operate independently starting February 1, 2025. The division will report to Executive Chairman Pawan Munjal.

The company’s board is to meet on February 6, 2025, to discuss and approve the unaudited financial results for the quarter and nine-month period ending December 31, 2024.

Financial Performance

The company reported a consolidated net profit of ₹1,045.89 crore in Q2 FY25, a 26.29% increase from the previous year. Revenue from operations rose by 15.4% to ₹10,210.79 crore.

Following the announcement, Hero MotoCorp’s stock fell 1.18% to ₹4,289.65. Despite this, shares had closed 3.84% higher at ₹4,340.85 the previous day. However, today, Hero MotoCorp Ltd shares are trading at ₹4,266.70 as of 12:01 PM on February 1, up 2.13% today, recovering 5.77% over the past five days but still down 20.55% in the last six months.

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