Hero MotoCorp is witnessing a significant leadership shake-up, with nearly half a dozen senior executives likely to have resigned in the past few days, sources familiar with the development told ET. A formal response from the company is awaited.
These high-profile exits come on the heels of mounting challenges for the company, including declining market share and increased competition.
According to sources, most of the resignations have occurred within the last two to three days, further signalling turbulence at the top management level, the report added.
Among the executives believed to have stepped down are Reema Jain – Chief Information and Digital Officer; Sameer Pander – HR Head for Talent Management; Swadesh Srivastava – Chief Business Officer of Emerging Mobility and Chair of the Innovation Council; Dharm Rakshit – Head of HR and Culture Change; and Chandrasekar Radhakrishnan – Head of Business Emerging Mobility/Vida.
The wave of exits follows the resignations of Hero MotoCorp’s Chief Executive Officer Niranjan Gupta and Chief Business Officer Ranjivjit Singh, marking a period of significant leadership turnover.
A person close to the situation indicated that more resignations could follow in the coming days, suggesting deeper internal challenges within the company.
Hero MotoCorp has been grappling with declining sales and market share. Last month, the company was unseated by Honda Motorcycle and Scooter India as the country’s top two-wheeler manufacturer, marking a historic shift in the industry.
Furthermore, for the first time, Hero MotoCorp sold fewer two-wheelers—including exports and electric vehicles—than TVS Motor Company, pushing it down to third place in total sales volume. Hero’s overall dispatches to dealers in February declined by 17% compared to the same period last year, further compounding its struggles.