Hero Motocorp Chairman Pawan Munjal to take 20% pay cut

The executive Chairman of Hero MotoCorp Mr Pawan Munjal has voluntarily decided to take a 20% salary cut.

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The move is a result of the decision of separating the roles of Chairman and Chief Executive Officer of the company.

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This way, the remuneration of Rs 99.55 crores in FY23, will come down to around Rs 80 crore effective from January 1.

Hero MotoCorp recorded a 47% jump in net profit for the quarter driven by higher prices and easy commodity costs.

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The revenue from operations increased 4% on year to Rs 9445.2 crore against Rs 9075 crore in the quarter than the last fiscal.

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