In a dramatic shake-up, Hero MotoCorp, India’s largest two-wheeler manufacturer by volume, has seen the resignation of almost half a dozen senior executives, exacerbating the growing challenges facing the company. These departures, which have occurred over the past few days, signal increasing unrest at a time when the brand’s leadership is under immense pressure.
While the company has yet to provide an official statement, sources close to the matter have confirmed the resignations of several key figures. Notably, the list includes Reema Jain, Chief Information and Digital Officer and member of the executive management team, Sameer Pander, the Head of HR for Talent Management, Swadesh Srivastava, Chief Business Officer of Emerging Mobility and Chair of the Innovation Council, and Dharm Rakshit, Head of HR and Culture Change.
This wave of executive exits follows on the heels of a high-profile townhall meeting in February, during which Pawan Munjal, Executive Chairman of Hero MotoCorp, addressed an audience of over 5,000 employees both in India and internationally. During his address, Munjal remarked, “I have my eyes on each one of you,” signalling that underperformance would not be tolerated within the organisation.
The most recent departures come just a month after the resignation of the company’s CEO, Niranjan Gupta, and Chief Business Officer, Ranjivjit Singh, both of whom left in February. Insiders suggest that many of those resigning now were directly hired by Gupta and Singh, with one source commenting, “Some of the executives were hired by Gupta and Singh. It is therefore not surprising that they have been asked to go.”
This mass exodus is occurring amid a critical juncture for Hero MotoCorp, as the company grapples with a steep decline in market share. Last month, the company was overtaken by its Japanese competitors, Honda Motorcycle and Scooter India, dropping from its longstanding position as the market leader. Furthermore, Hero MotoCorp’s total sales, which include both domestic sales and exports of two-wheelers (including electric vehicles), plummeted by 17% compared to the same period last year, forcing the company into third place, behind TVS Motor Company for the first time in its history.
As Hero MotoCorp’s leadership faces mounting scrutiny, the company’s ability to steer itself out of this crisis remains to be seen. With further departures on the horizon, it is clear that the company’s once-dominant position in the market is under serious threat.
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