Hero MotoCorp reports a change in key management and an increase in its ownership in Ather Energy

15 Dec 2023 , 09:06 AM

The biggest two-wheeler manufacturer in the world, Hero MotoCorp, announced on December 14 that Vivek Anand has been named the company’s chief financial officer (CFO) and Rachna Kumar its chief human resources officer (CHRO).

According to a filing with the exchange, Hero MotoCorp, they will both answer to CEO Niranjan Gupta.

Anand has nearly thirty years of varied business experience in FMCG, telecom, consumer healthcare, and real estate. He is a chartered accountant by profession. For the previous four years, he was employed at DLF Limited as the CFO. The date of his appointment is March 1, 2024.

Kumar, who holds the title of CHRO at Whirlpool Asia, joins Hero MotoCorp. She has experience in a variety of industries, including consumer goods, food and beverage, oil and gas, and retail, according to the filing. On January 2 of next year, she will start working for Hero MotoCorp.

Hero MotoCorp, managed by Pawan Munjal, announced separately that it will acquire a larger share in the electric two-wheeler startup Ather Energy for up to Rs 140 crore. Hero will now own 39.7% more of Ather Energy than it did before, up from 36.6%.

By January 31, 2024, the corporation will have completed the purchase of additional Ather Energy shares.

Together, Hero MotoCorp and Ather Energy created India’s first fast-charging network for electric motorcycles that is compatible with other vehicles. Through this collaboration, the first-ever interoperable fast-charging network for electric two-wheelers would be connected to all 100 cities in the country.

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