Most of these resignations have taken place in the last two to three days, according to people aware of the matter.
The latest departure of key executives also comes a month after the company’s townhall — as reported by ET in its February 14 edition. Addressing 5,000-odd employees at home and abroad during a town hall last month, Pawan Munjal, executive chairman, Hero MotoCorp, had said, “I have my eyes on each one of you,” he said. The message was clear, underperformance will not be tolerated.
Those who are believed to have resigned include Reema Jain — chief information and digital officer and member of the executive management team, Sameer Pander- (HR head for talent management), Swadesh Srivastava (CBO Emerging Mobility, Vida & Chair innovation council, Dharm Rakshit— head HR and culture change.
A person close to the development said more departures are likely in coming days. This comes to the fore barely a month after Hero MotoCorp’s chief executive officer, Niranjan Gupta, and Ranjivjit Singh, chief business officer, quit the company in February.
“Some of the executives were hired by Gupta and Singh. It is therefore not surprising that they have been asked to go,” said another person aware of the matter.Hero’s market share has slid to the lowest in a decade. Last month, Hero MotoCorp was unseated from the No.1 position by its Japanese rival Honda Motorcycle and Scooter India. Also, for the first time ever, it sold fewer two-wheelers cumulatively (including exports and electric vehicles) than TVS Motor Co, getting pushed to the third place. Hero’s total sales — dispatches to the dealers — during the month declined 17% over the year ago period.
