Sunil Munjal ceases to be promoter of Hero Motocorp

NEW DELHI: Hero MotoCorp, the world’s largest two-wheeler manufacturer, on Wednesday said Sunil Kant Munjal has ceased to be a promoter of the company after his tenure as joint managing director ended on August 16. However, he will continue to hold 32,500 shares, 0.02% of the paid-up capital, as an individual shareholder. “We have received a communication from the individual promoters of the company stating that pursuant to the aforesaid realignment, Sunil Kant Munjal will henceforth, not be classified as a ‘promoter’ of the company,” the company said.

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