Chairman Emeritus of Hero Cycles and industry veteran Mr O.P. Munjal passes away in Ludhiana, Punjab
Shri O.P. Munjal, Chairman Emeritus of Hero Cycles and one of the founders of Hero Group, passed away earlier today in Ludhiana. The 86-year-old industry legend was facing health related issues for the past few months. He is survived by one son, four daughters, a daughter-in-law, four son-in-laws and 10 grandchildren. The cremation will take place in Ludhiana on (date) at (time) while the prayer meeting will take place in Delhi at (location) on (date and time). Shri Munjal had only last month ceded Chairmanship of Hero Motors group and retired from active role in the business. His son Mr Pankaj Munjal succeeded him as the Chairman and Managing Director of the Group. Shri O.P. Munjal along with his three brothers Mr Brijmohan Lall Munjal, Mr Dayanand Munjal and Mr Satyanand Munjal started a bicycle spare parts business in Amritsar In 1944. They subsequently moved their base to Ludhiana naming the company ‘Hero’ and setup India’s first bicycle manufacturing unit in 1956.
During 1980s Hero Cycles became the largest bicycle manufacturer by volume in the world. Shri Munjal, who led Hero Cycles for almost 60 years, also helped Hero Cycles in diversifying to other businesses such as auto parts manufacturing and hospitality. Under his leadership, the company grew from its humble beginnings to a fledging Rs 3000 crore industrial house. He also served as the president of All India Cycle Manufacturers’ Association. Shri O.P. Munjal had received national honours from former Presidents of India including Shri Sarvepalli Radhakrishnan, Shri V.V. Giri, Shri Giani Zail Singh and Dr A.P.J. Abdul Kalam.
He had also received the Udyog Rattan Award for outstanding contribution towards economic development of the State (Punjab). Shri O.P. Munjal was not only a renowned businessman but also a known philanthropist. He supported several educational institutions and hospitals across India.