Sunil Munjal quits Hero for his brother Pawan Munjal
New Delhi: In an ownership split at $5 billion Hero Group, Sunil Munjal will leave the flagship Hero MotoCorp, headed by his elder brother Pawan, and will focus on some other group entities besides pursuing his other interests. The ‘ownership realignment’ comes within months of Hero Group patriarch Brijmohan Lall Munjal’s death in November last year.
After end of his tenure at Hero on August 16, Sunil Kant Munjal will focus on some of the other group businesses including Hero Corporate Service and its allied companies as the chairman, while he also pursues new business interests. “With the blessings of Santosh Munjal, the matriarch of the Munjal family, Sunil Kant Munjal, Joint MD, Hero MotoCorp Ltd and Chairman, Hero Corporate Service, realigns his business or partnership stake in the Hero Group,” a statement issued by BML Munjal family said. As part of the realignment, he will focus on some of the other group businesses including Hero Corporate Service and its allied companies as the Chairman, while he also pursues new business interests, it added. Sunil is the youngest of the four siblings.