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ā¢ Pawan Munjal, Executive Chairman of Hero MotoCorp, has volunteered to take a 20 percent pay cut following the separation of the roles of Chairman and CEO.
ā¢ In FY23, Hero Moto paid Rs 99.55 crore as remuneration to Munjal, which was 18.02 percent higher than the previous year. After a 20 percent cut, it will be around Rs 80 crore.
ā¢ Hero MotoCorp recorded a 47 percent jump in net profit for the quarter ended September 30, 2023, driven by higher prices and easing commodity costs.