Hero Brings in Harshavardhan Chitale as New CEO at ‘Pivotal Moment’

Two-wheeler giant Hero MotoCorp has appointed Harshavardhan Chitale as its new Chief Executive Officer (CEO), more than five months after former CEO Niranjan Gupta stepped down. The company is currently being led by acting CEO and Chief Technology Officer (CTO) Vikram Kasbekar.

Chitale will take over from Kasbekar on January 5, 2026, following approval from the Board of Directors. His appointment comes at a time when the company is facing intense competition amid slowing sales.

In August 2025, the company sold 328,760 two-wheelers, trailing behind Japan’s Honda, which sold 354,050 units. Monthly market share data for the top four two-wheeler makers highlights how Hero MotoCorp’s position in the segment has weakened.

Hero’s monthly market share fell from 31.6% in April to 25.9% in August, while Honda’s grew from 25.3% to 27.9%. During the same period, TVS saw steady growth, rising from 15.8% in November 2024 to a peak of 19.8% in July 2025, and holding 19.5% in August 2025. Meanwhile, Bajaj’s share softened slightly, slipping from 11.1% in November 2024 to 9.2% in August 2025.

In the June quarter, the Pawan Munjal-led firm reported a flat standalone net profit. Q1 FY26 net profit stood at ₹1,125.7 crore, compared with ₹1,122.6 crore in Q1 FY25. However, Hero MotoCorp’s consolidated net profit rose 65.2% year-on-year (YoY) to ₹1,705.6 crore in the first quarter of FY26, boosted by the listing of its associate company Ather Energy, which delivered a one-time gain of ₹722.18 crore.

The incoming CEO, Chitale, brings over 30 years of leadership experience across industrial automation, lighting, IT services, and digital transformation. He has held senior roles at leading multinationals, including Signify, Philips Lighting India, HCL Infosystems, and Honeywell Automation India.

At Dutch lighting firm Signify, he served as Global CEO of its Professional Business, valued at over $4.68 billion, overseeing operations in 70 countries with a workforce of 12,000, while driving product innovation and digital transformation, the company said in a statement. At Philips Lighting India, he led the company’s transition into a standalone listed entity and strengthened its market leadership.

An IIT Delhi alumnus and recipient of the Director’s Gold Medal, Chitale is also an active angel investor in emerging sectors such as EVs, clean energy, health-tech, and agri-tech.

“Harsh’s track record in driving growth, fostering innovation, and leading global transformation makes him the ideal leader for Hero MotoCorp at this pivotal moment. His vision will accelerate our journey across electric and emerging mobility, premiumisation, digitalisation, and sustainability,” said Hero MotoCorp Executive Chairman Dr Pawan Munjal.

Acting CEO Kasbekar will continue as Executive Director and Chief Technology Officer after Chitale’s appointment.