MUMBAI: Hero MotoCorp has named Pawan Munjal as chairman as his father Dr. Brijmohan Lall, who has been the company’s chairman since its inception in 1984, expressed his desire to relinquish his post.

The company’s board unanimously approved Munjal’s appointment as the chairman, managing director and CEO.

Accepting Dr. Lall’s offer to relinquish his duties as the executive chairman of the company, the board requested him to continue to mentor the company in the form of chairman emeritus, which he accepted.

Under the leadership of Munjal, Hero has remained the world’s largest two-wheeler manufacturer in terms of unit volumes sold in a calendar year by a single company since 2001 – the year he took over as the MD and CEO. Munjal has consistently demonstrated his visionary leadership to emerge as one of India’s highly respected business leaders.

Hero MotoCorp continues to command well over 50 per cent share in the domestic motorcycle market in India. The company sold record 6.63 million units two-wheelers in the financial year 2015 – its highest-ever annual sales.