India’s ‘Cycle Man’ OP Munjal Passed Away
LUDHIANA, India – Other news on Hero is that one of its founders passed away; India’s ‘Cycle Man’ Om Prakash Munjal. Chairman Emeritus of Hero Cycles and the Hero Group, passed away after a brief illness on August 13.
Munjal, 87, had retired from active role in the business last month and his son Pankaj Munjal succeeded him as the Chairman and MD of the Hero Motors group.
Munjal along with his three brothers Brijmohan Lall Munjal, Dayanand Munjal and Satyanand Munjal started bicycle spare parts business in Amritsar in 1944.
Subsequently they moved their base to Ludhiana naming the company ‘Hero’ and set up India’s first bicycle manufacturing unit in 1956.
During the 1980’s, Hero Cycles became the largest bicycle manufacturer by volume in the world. O.P. Munjal, who led Hero Cycles for almost 60 years, also helped the company in diversifying to other businesses such as auto parts manufacturing and hospitality.
Under his leadership, the company grew from a bicycle maker to an over 1 billion euro industrial house. He also served as the president of All India Cycle Manufacturers’ Association.
He is survived by a son and four daughters.