Hero MotoCorp grooming internal talent as part of its succession plan

India's largest two-wheeler maker, Pawan Munjal-promoted Hero MotoCorp, is grooming a pool of internal talent in key functions to take on leadership roles in the future as part of a well laid-out succession plan at the global auto major. Several people associated in various capacities with Hero MotoCorp told ET,

Hero is looking at nurturing talent within the company instead of looking elsewhere to fill in leadership positions going ahead.

"This is a good strategy to have. It provides growth opportunities to internal people, while at the same time helping retain the cultural ethos and DNA of the company. It keeps Hero future-ready, nimble and progressive, while ensuring growth for employees internally", said a senior executive at a global executive coaching firm.

He added, Hero MotoCorp will now increasingly look at nurturing and promoting more internal talent to take on leadership roles.

Hero MotoCorp on Thursday announced the appointment of Niranjan Gupta as the new chief executive officer (CEO) of the company, effective from May 1, 2023. The sudden decision came as a surprise to many within the company and outside. Gupta is currently is the chief financial officer (CFO), Head - Strategy and M&A, at the company. Pawan Munjal will continue as executive chairman and Whole-time director on the Board.