Hero MotoCorp has announced the appointment of its new Chief Financial Officer (CFO), Niranjan Gupta and the change in management will effect from April 1,2017. Niranjan Gupta will replace Ravi Sud, Senior Vice President and CFO, who will superannuate from the company on 31st March 2017. Ravi Sud has 35 years experience of automobile industry out of which he has served Hero MotoCorp for 19 years. He is responsible for handling finance, secretarial and legal functions. Before Hero MotoCorp, Ravi Sud was serving as a General Manager, Corporate Finance at Eicher Goodearth Ltd.
Read about: Hero launches Passion Pro i3S at Rs 50,955
Nirajan Gupta is a qualified Charted Accountant and has done ICWA & was the Company Secretary. He has thorough experience in managing P&L, setting up financial control and business systems for growth, M&A, treasury, business planning and forecasting, restructuring and reorganization, financial accounting, compliance and reporting as well as working capital management. Before Hero MotoCorp, Niranjan Gupta has worked with Unilever in various capacities including Global Finance Director of Household and Hair category in London and also with Vedanta Group as CFO for their Aluminium and Power vertical.
The company witnessed a decline of 11.64 percent in the third quarter of FY 2016-2017 of the total income compared to the same period last year. Due to the demonetisation of Rs 500 and Rs 1,000 currency notes, the total income of the company was Rs 6898.64 crore in this period as against Rs 7807.77 crore in December 2016.
Hero MotoCorp has launched new Achiever 150, Passion Pro i3S, CB Unicorn and it first global launch Glamour 125 with BS4 compliant. The company has five manufacturing facilities in India and one in Colombia. In addition, Hero MotoCorp is also planning to open its second global manufacturing facility in Bangladesh.