New Delhi: Hero MotoCorp joint managing director Sunil Munjal will soon head the Hero Group‘s venture into high growth sector, including defence.
His tenure at the Hero MotoCorps will end on August 16. The step-down by Sunil Munjal was for diversifying the Hero Group into the new sectors.
Apart from defence, the $6-billion Hero Group is looking at the power sector too.
The Mint quoted a statement from Sunil Munjal to state that the entire Munjal family believed the group’s diversification drive needs a filip to accelerate growth.
“This is also an exiciting time for me to consodlidate and strengthen some of the existing businesses and to explore new opportunities that are close to my heart,” he was quoted as saying in the statement.
He will also realign his business and partnership stake in the Hero Group. “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,” the statement was quoted as saying.