29 July 2016 Current Affairs: The Hero Group said that Sunil Kant Munjal, joint managing director of Hero MotoCorp and Chairman Hero Corporate Services will step down from the Board of Directors of the two-wheeler maker to focus on his independent core business and to pursue new business interests.
Hero Group as established by the late Dr Brijmohan Lall Munjal, the members of BML Munjal family have decided to realign their businesses to achieve future growth and expansion.
The statement added Sunil Kant Munjal has expressed his desire to step down as joint MD once his tenure comes to an end on August 16,2016.
Sunil Kant Munjal is the youngest son of Brijmohan Lall Munjal. During his lifetime itself the succession plan of Hero MotoCorp was decided with the elevation of Pawan Munjal as the Chairman of the company.
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