New Delhi, Jul 20 : Hero Motors Group, which includes flagship company Hero Cycles, today 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. (Read:  Roger Binny: 10 interesting things to know about India’s 1983 World Cup hero)Also Read - Hero Teaser Out: Mahesh Babu's Nephew Ashok Galla Mimics Health Ledger’s Joker, It Will Leave You Impressed

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. Also Read - Teenager Turns Hero, Saves 75 Residents of Collapsing Dombivli Building While Watching Web Series

Pankaj Munjal had joined the group as a trainee in 1988 and was appointed as its Co-Chairman and Managing Director in December 2011.
Incorporated in 1956, Hero Cycles is the largest cycle manufacturer in the world. The company has a manufacturing capacity of 7.5 million bicycles per year, with its unit in Ludhiana (Punjab), Bihta (Bihar) and Ghaziabad (UP). Also Read - A Hero in Life & Death: Family of 27-Year-Old Brain Dead Kerala Man Donates His Organs, Saves 8 Lives