Hero Cycles Chairman Emeritus Om Prakash Munjal passes away

NEW DELHI: OP Munjal, chairmanemeritus of Hero Cycles and one of the founders of the Hero Group, died on Thursday in Ludhiana. He was 86. Munjal, who led Hero Cycles for almost 60 years, retired from active business roles less than a month ago, leaving the chairmanship of the company to son Pankaj Munjal.

Munjal, along with his three brothers including family patriarch Brijmohan Lall Munjal, started a bicycle spare parts business in Amritsar in 1944. They subsequently moved the base to Ludhiana, named the company ‘Hero’ and set up India’s first bicycle manufacturing unit in 1956.

During the early 1980s, Hero Cycles emerged as the largest manufacturer of bicycles by volume in the world. A Rs 3,000 crore company now, it has diversified into other businesses such as auto parts manufacturing and hospitality. He is survived by son Pankaj Munjal and four daughters.