New Delhi,July 20: Hero Motors Group, which includes flagship company Hero Cycles, today said it has elevated Pankaj Munjal as its Chairman and Managing Director (CMD).
Pankaj Munjal took over from O P Munjal, who led the Ludhiana-based company for more than 60 years, Hero Motors Group said in a statement.
O P Munjal will now be the Chairman Emeritus of the company.
The group comprises cycle major Hero Cycles, auto parts manufacturing companies Hero Motors Ltd, ZF Hero Chassis Systems and Munjal Kiriu Industries hospitality arm Munjal
Hospitality and luxury home decor products company Oma Livings.
Pankaj Munjal had joined the group as a trainee in 1988 and was appointed as its Co-Chairman and Managing Director in December 2011.
Incorporated in 1956, Hero Cycles is the largest cycle manufacturer in the world. The company has a manufacturing capacity of 7.5 million bicycles per year, with its unit in Ludhiana (Punjab), Bihta (Bihar) and Ghaziabad (UP).