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.
Brands
FSS names Anand Krishnamurthi head of global digital delivery
Tech veteran to drive AI-first, cloud-led transformation in payments globally
CHENNAI: Financial Software and Systems (FSS), an AI-first payment infrastructure company, has appointed Anand Krishnamurthi as head of global digital delivery.
In his new role, Anand Krishnamurthi will lead FSS’s global digital delivery capabilities, focusing on AI-first and cloud-led transformation while ensuring predictable, high-quality outcomes for customers worldwide. He will be based in Chennai and report to V. Balasubramanian, CEO of FSS.
Bringing 28 years of experience in technology and digital transformation across banking, capital markets, financial services, and insurance, Anand has held senior leadership positions at Cognizant and NuSummit. He is recognised for scaling multi-geography delivery teams, leading mission-critical platforms, and embedding AI-driven automation in complex, regulated environments.
“What drew me to FSS is its deep payments expertise, strong product DNA, and the scale at which its platforms power real-world financial ecosystems,” said Anand Krishnamurthi. “I aim to strengthen delivery predictability, execution rigor, and engineering quality, building empowered teams that deliver measurable customer outcomes. FSS has a unique opportunity to create real-time, AI-infused payments infrastructure that is resilient, secure, and globally scalable.”
V. Balasubramanian added, “Anand’s track record in leading multi-geography delivery programs and AI-first operating models makes him the ideal leader for FSS as we accelerate our AI-driven digital payments business. His leadership will help us raise the bar for outcomes globally.”
This appointment is part of FSS’s broader push to build an AI-powered, cloud-native delivery organisation capable of meeting the evolving needs of banks, fintechs, and financial institutions worldwide.
