Hero MotoCorp advanced 2.40% to Rs 5,491.15 after the company announced the appointment of Harshavardhan Chitale as its chief executive officer, effective from Monday, 5th January 2026.
Following Chitales appointment, Vikram Kasbekar will step down from his role as Acting CEO. However, he will continue to serve on the companys board as executive director and chief technology officer.Chitale brings over 30 years of global leadership experience spanning B2B and B2C sectors, with a strong track record in industrial automation, lighting, IT services, and digital transformation. He has led several publicly listed and multinational corporations across India, the US, and Europe, driving growth, profitability, and organizational renewal.
Most recently, he served as Global CEO of Signifys 4 billion Professional Business, where he led 12,000 employees across 70 countries and spearheading manufacturing, supply chain, product development and digital initiatives. During his tenure as vice chairman & managing director of Philips Lighting India, he successfully executed its spin-off into a standalone public company and consolidated clear market leadership. He has also held key leadership roles at HCL Infosystems and Honeywell Automation India.
An alumnus of IIT Delhi and a recipient of the Directors Gold Medal, Chitale is also an active angel investor in sectors such as electric vehicles, clean energy, health-tech, and agri-tech.
Hero MotoCorp is the worlds largest manufacturer of motorcycles and scooters, with a global footprint spanning 48 countries across Asia, Africa and Latin America. It has collaborations with Harley-Davidson and Zero Motorcycles and strategic investments in Ather Energy and Euler Motors.
The companys standalone net profit rose 0.3% to Rs 1,125.70 crore despite of 5.6% decline in revenue from operations to Rs 9,578.86 crore in Q1 FY26 over Q1 FY25.
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