Sunil Munjal to exit Hero MotoCorp as part of family agreement in 2016

The management and control of listed entity vested with the family Group and Sunil Kant Munjal resigned as joint managing director in the listed entity

Sunil Kant Munjal will exit Hero MotoCorp as part of a the family settlement agreement in 2016. Hero MotoCorp has received the settlement agreement from the promoters, the company said in an exchange filing on Monday. “The management and control of listed entity vested with the family Group (comprising Santosh Munjal, Renu Munjal, Suman Kant Munjal, and Pawan Munjal) and Mr. Sunil Kant Munjal resigned as joint managing director in the listed entity,” the filing said.