Hero Motors Group, which includes flagship company Hero Cycles, on Monday, said it has elevated Pankaj Munjal as its Chairman and Managing Director (CMD). Pankaj Munjal has taken over from O P Munjal, who led the Ludhiana-based company for more than 60 years, Hero Motors Group said in a statement. O P Munjal has now been elevated to the position of Chairman Emeritus, it added. The group comprises cycle major Hero Cycles, auto parts manufacturing companies —— Hero Motors Ltd, ZF Hero Chassis Systems and Munjal Kiriu Industries —— hospitality arm Munjal Hospitality and luxury home decor products company Oma Livings.

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