Hero MotoCorp appoints former SBI chairman Rajnish Kumar as independent non-executive director

The country's leading two-wheeler manufacturer Hero MotoCorp on Friday announced that it has appointed former State Bank of India (SBI) chairman Rajnish Kumar to its board as additional and independent director. In addition, the automaker has also appointed Vasudha Dinodia as an additional and non-executive director, effective from 25 November.

Kumar held a three-year term as chairman of SBI, which came to an end in October 2020. He is credited with steering the bank successfully through very challenging times and adopting key technology transformations.

During his tenure, SBI developed YONO, a digital platform, which established SBI as a global leader in the adoption of technology and innovation.

Furthermore, Kumar also boasts of four-decade experience with the State Bank of India. He is currently serving as an independent director on the boards of many other companies including HSBC, Asia Pacific, L&T Infotech and is also the non-executive chairman of Resilient Innovations (BharatPe).

Additionally, Dinodia has been "an astute marketing strategist and third-generation entrepreneur from the eminent Munjal family. Dinodia has scaled Choko La to be a globally recognised, premier chocolate brand with its presence across the US, Europe and Asia," the company stated.

Hero MotoCorp also informed that it recently appointed Camille Tang as an independent non-executive director on the board of the company. "Tang brings with her several decades of rich and diverse global experience in varied sectors such as finance, retail, technology and Artificial Intelligence (AI). She is currently an advisor on software and white label SaaS startups in Canada and the USA."

With these current appointments, Hero MotoCorp now has 11 board members, of which 25 per cent are women, thereby, clearly exhibiting the company’s focus on diversity and inclusion, which will significantly enhance the company’s performance, Hero MotoCorp said.

On Friday, Hero MotoCorp shares were down 2.62 per cent to close at Rs 2,526.80 on NSE.