ET BureauNEW DELHI: The world’s top two-wheeler maker Hero MotoCorp is holding its board meeting in Florence on Tuesday, its first venue outside India, in line with its larger plan of increasing global footprint.
“With global foray plans, we are holding our first-ever board meeting at an overseas location,” a Hero MotoCorp spokesperson said. “In the past 18 months, we have expanded to over 20 global markets across Africa, Asia and South and Central America. We have plans to keep expanding rapidly our global footprint to more than 50 countries by 2020.”
The board of directors of the company will meet at a 15th century heritage villa in the capital city of the Italian region of Tuscany.
“It is also a strategic decision to hold the meeting in Italy as it is home to two of our alliances – Engines Engineering and Magneti Marelli – both based at Bologna. The entire team, including our board of directors, visited the R&D centres of Engines Engineering and the facility of Magneti Marelli at Bologna on Monday.”
Engines Engineering is a technology partner of Hero MotoCorp. Hero MotoCorp also has a joint-venture with Magneti Marelli in India for fuel injection technologies.
The company flew board members and the entire leadership team into Italy over the weekend. The board members, including Gen (Retd) VP Malik, Anand C Burman, Paul Edgerley, Pritam Singh, Pradeep Dinodia and Ravi Nath, along with the senior leadership team of Hero, will brainstorm on the future roadmap of the company.
The ‘Strategy Session’ will be moderated by Harvard Business School professor Tarun Khanna. Khanna, an expert on emerging markets, globalisation, international business and strategy, is currently the Jorge Paulo Lemann professor at Harvard where he is a member of the strategy group and the director of Harvard University’s South Asia initiative since 2010.
Outside India, Hero Moto-Corp sells bikes and scooters in Sri Lanka, Nepal, Bangladesh, Egypt and Turkey in Asia; Peru, Ecuador and Colombia in South America; Guatemala, Honduras, El Salvador and Nicaragua in Central America; Kenya, Mozambique, Tanzania and Uganda in East Africa; and Burkina Faso, Ivory Coast, Democratic Republic of Congo and Angola in West Africa.
The company is setting up two overseas manufacturing plants in Colombia and in Bangladesh that are expected to go on stream in 2015-16. In partnership with its local distributors, Hero MotoCorp has also set up assembly units in Kenya, Tanzania and Uganda.
“With global foray plans, we are holding our first-ever board meeting at an overseas location,” a Hero MotoCorp spokesperson said. “In the past 18 months, we have expanded to over 20 global markets across Africa, Asia and South and Central America. We have plans to keep expanding rapidly our global footprint to more than 50 countries by 2020.”
The board of directors of the company will meet at a 15th century heritage villa in the capital city of the Italian region of Tuscany.
“It is also a strategic decision to hold the meeting in Italy as it is home to two of our alliances – Engines Engineering and Magneti Marelli – both based at Bologna. The entire team, including our board of directors, visited the R&D centres of Engines Engineering and the facility of Magneti Marelli at Bologna on Monday.”
Engines Engineering is a technology partner of Hero MotoCorp. Hero MotoCorp also has a joint-venture with Magneti Marelli in India for fuel injection technologies.
The company flew board members and the entire leadership team into Italy over the weekend. The board members, including Gen (Retd) VP Malik, Anand C Burman, Paul Edgerley, Pritam Singh, Pradeep Dinodia and Ravi Nath, along with the senior leadership team of Hero, will brainstorm on the future roadmap of the company.
The ‘Strategy Session’ will be moderated by Harvard Business School professor Tarun Khanna. Khanna, an expert on emerging markets, globalisation, international business and strategy, is currently the Jorge Paulo Lemann professor at Harvard where he is a member of the strategy group and the director of Harvard University’s South Asia initiative since 2010.
Outside India, Hero Moto-Corp sells bikes and scooters in Sri Lanka, Nepal, Bangladesh, Egypt and Turkey in Asia; Peru, Ecuador and Colombia in South America; Guatemala, Honduras, El Salvador and Nicaragua in Central America; Kenya, Mozambique, Tanzania and Uganda in East Africa; and Burkina Faso, Ivory Coast, Democratic Republic of Congo and Angola in West Africa.
The company is setting up two overseas manufacturing plants in Colombia and in Bangladesh that are expected to go on stream in 2015-16. In partnership with its local distributors, Hero MotoCorp has also set up assembly units in Kenya, Tanzania and Uganda.
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