JMD steps down from board with effect from 16 August 2016
Hero Motorcorp announced that with reference to realignment of business interests amongst the promoters, Sunil Kant Munjal's tenure as Joint Managing Director of the Company ends on 16 August 2016. He has also resigned from the Board of Directors of the Company with effect from the same date.Pursuant to the aforesaid realignment, Sunil Kant Munjal will henceforth, not be classified as a "promoter" of the Company. However, Sunil Kant Munjal will continue to hold 32,500 equity shares of the Company representing 0.02% of the issued and paid up share capital of the Company in his individual capacity.
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