Rajnish Kumar, former CEO of SBI, has been appointed to the Board of Directors of Hero MotoCorp

On November 26, Hero MotoCorp, the world’s top producer of motorbikes and scooters, stated that SBI’s former chairman Rajnish Kumar has been appointed as an Independent non-executive Director on the Company’s Board.

Vasudha Dinodia has also been appointed as an Additional and Non-Executive Director, effective November 25.

“In order to realize its new Vision – “Be the Future of Mobility,” Hero MotoCorp has further reinforced its leadership by adding diverse professionals to its Board of Directors,” the company stated in a statement.

Kumar, an industry veteran, served as SBI chairman from October 2017 to October 2020. He has also held the positions of managing director and managing director (Compliance and Risk) at SBI.

After leaving SBI, Kumar worked as an exclusive advisor to Kotak’s Special Situation Fund and as an independent non-executive director at HSBC.

Kumar was appointed chairman of the board of BharatPe, a fintech startup, in October. He will work closely with the other board members and CXOs on major commercial and regulatory objectives.

On the NSE, Hero MotoCorp shares closed 2.62 percent lower at Rs 2,526.80 apiece on Friday.