MAM
Hero Cycles chairman emeritus OP Munjal passes away
MUMBAI: Hero Cycles chairman emeritus and one of the founders of Hero Group OP Munjal passed away earlier today (13 August) 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 on 14 August in Ludhiana.
Munjal had only last month ceded chairmanship of Hero Motors group and retired from active role in the business. His son Pankaj Munjal succeeded him as the chairman and managing director of the Group.
He along with his three brothers Brijmohan Lall Munjal, Dayanand Munjal and Satyanand Munjal started a bicycle spare parts business in Amritsar In 1944. They subsequently moved their base to Ludhiana naming the company ‘Hero’ and set up India’s first bicycle manufacturing unit in 1956. During 1980s Hero Cycles became the largest bicycle manufacturer by volume in the world. 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.
Munjal had received national honours from former Presidents of India including Sarvepalli Radhakrishnan, VV Giri, 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).
He was not only a renowned businessman but also a known philanthropist. He supported several educational institutions and hospitals across India.
MAM
Beacon Group appoints Dr Rajesh Patel as Group CEO
36-year healthcare veteran to lead Beacon Diagnostics, Vector Biotek, Biogeny.
MUMBAI: A new chief, a fresh diagnosis and a sharper prescription for growth. Beacon Group has appointed Dr Rajesh Patel as its Group Chief Executive Officer, effective April 1, 2026, signalling a decisive push to scale its presence in the diagnostics and IVD space. Patel steps into the role with 36 years of experience across the healthcare and diagnostics industry, bringing a career shaped by leadership roles spanning sales, marketing, business development and operational strategy. His mandate is both expansive and precise: to steer the group’s overall strategic direction while tightening coordination across its three core entities Beacon Diagnostics, Vector Biotek and Biogeny Diagnostics.
In practical terms, that means driving cross-company synergies, accelerating market expansion and strengthening organisational capability areas increasingly critical as diagnostic players compete for scale in a fragmented yet rapidly evolving healthcare ecosystem. The group is positioning itself to capture unmet demand across chain laboratories, key accounts and standalone labs, segments that remain underserved despite growing diagnostic needs.
The appointment comes at a time when the In Vitro Diagnostics (IVD) sector in India is entering a more competitive and innovation-led phase, with companies focusing not just on product pipelines but also on service delivery, integration and customer-centric models. Beacon’s leadership appears to be betting that Patel’s execution-focused approach can help translate ambition into operational momentum.
Welcoming the appointment, Chairman Dr D K Joshi described Patel’s induction as a strategic move aligned with the group’s long-term vision, emphasising the role of leadership depth in navigating the next phase of growth.
For Beacon Group, the message is clear, in a sector where precision matters, leadership is the new differentiator—and this appointment is intended to set the tone for what comes next.
