Hero MotoCorp M&A, strategy head resigns; CFO Niranjan Gupta takes charge


Two-wheeler maker Hero MotoCorp on Friday announced the resignation of its head of strategy, mergers and acquisitions, and global product planning Malo Le Masson. The company said that he has decided to pursue opportunities outside.

Chief Financial Officer Niranjan Gupta has been given additional charge of heading strategy, mergers and acquisitions for the company. He has been CFO for the past six years.

He is also director on the Board of several associate companies, including Ather Energy, an associate company in electrical vehicle space; HMCMM Auto Private Limited, a joint venture for Fuel injection system, and HMCL Colombia, a subsidiary of HMCL for its Global business.

Executive Director Vikram Kasbekar has been given the responsibility to head the key function of global product planning as an interim charge, said Hero MotoCorp in its regulatory filing.

“As we gear up to leverage the emerging opportunities and address the rapidly evolving business climate, it is our people who will continue to be the key differentiator in this environment of change and impact. In keeping with this philosophy, Niranjan and Vikram have been entrusted with additional strategic responsibilities. Both of them have an impeccable track record of delivering outstanding business results in highly competitive environment and their immense experience and expertise will surely contribute towards the company’s performance,” said Mike Clarke, Chief Operating Officer & Chief Human Resources Officer, Hero MotoCorp.

Malo Le Masson was associated with  Hero MotoCorp for more than six years and will continue working with the company until the end of December 2022.

“Malo has been instrumental in enriching our product portfolio and evolving this function. Needless to say, he is leaving his footprint in our future line-up, as the Company prepares to introduce a range of new scooters and motorcycles over the next 12 to 18 months. We wish the very best to Malo for his future endeavors. He will continue working with us until the end of December 2022,” added Mike Clarke.

Hero MotoCorp posted 9.86 per cent decline in net profit to 716.07 crore in the quarter ending September 30, 2022 as against PAT of 794.40 crore in the corresponding quarter a year ago.

The company scrip ended 0.091 per cent down at 2,755 on BSE.


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