Hero MotoCorp, India’s largest two-wheeler manufacturer, is grappling with a wave of senior executive resignations, with close to half a dozen top leaders reportedly stepping down.
This mass exodus comes at a time when the company is facing significant challenges, including declining market share, intensifying competition, and underwhelming performance in the electric vehicle (EV) segment.
Key Resignations Shake Leadership Structure at Hero MotoCorp
Among the notable departures are Reema Jain, Chief Information and Digital Officer; Sameer Pander, HR Head for Talent Management; Swadesh Srivastava, Chief Business Officer for Emerging Mobility; Dharm Rakshit, Head of HR and Culture Change; and Chandrasekar Radhakrishnan, Head of Business for Emerging Mobility.
These exits follow the earlier resignation of Niranjan Gupta, the company’s CEO, and Ranjivjit Singh, Chief Business Officer, in February 2025.
The resignations have raised concerns about the company’s ability to retain top talent and maintain strategic continuity.
Industry insiders suggest that some of these executives were hired by Niranjan and Ranjivjit, making their departures unsurprising in the wake of the leadership changes.
Declining Market Share and Competitive Pressures
Hero MotoCorp’s market share has plummeted to its lowest in a decade, with the company losing ground to rivals such as Honda Motorcycle and Scooter India (HMSI) and TVS Motor Company.
In January 2025, Hero’s market share dropped to 26.92%, down from 28.08% a year earlier. For the first time, the company was overtaken by TVS Motor in cumulative two-wheeler sales, including exports and EVs.
The company’s total sales in January 2025 declined by 17% compared to the same period last year.
This decline further highlights the challenges it faces in retaining its leadership position.
Hero MotoCorp’s foray into the EV market has been underwhelming. In January 2025, the company sold only 1,615 electric scooters.
This figure stands in stark contrast to market leader Ola Electric, which sold 24,336 units during the same period.
The company’s EV and Emerging Mobility Business Unit oversees its electric vehicle operations. It has struggled to gain traction in a market that remains highly competitive.
Hero MotoCorp Leadership Transition and Strategic Focus
In response to the leadership vacuum, Hero MotoCorp has appointed Vikram Kasbekar, a company veteran, as the acting CEO.
Vikram is also handling the role of Chief Technology Officer (CTO) while the company searches for a permanent CEO.
The company has assigned Ram Kuppuswamy, Chief Procurement Officer, the additional role of Chief Operations Officer for Manufacturing.
The company is also focusing on restructuring its India Business Unit to accelerate growth and regain market leadership.
Ashutosh Varma, the current National Sales Head, will take over as Chief Business Officer for the international business.
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