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In a statement to the bourses on Monday, Hero Honda said that its new name – Hero MotoCorp Ltd – has been approved by shareholders at an extraordinary general meeting.
The meeting was held on June 17 at the two-wheeler maker's third plant at Haridwar, Uttrakhand.
The statement further said that the company will not have more than 16 directors, excluding nominees of State or Central Financial Institutions. At present, it has 14 directors on the Board.
The decision to change the name follows the Munjals-owned Hero Group's buyout of Japanese co-promoter Honda's 26 per cent stake in March this year. Under separate licence agreements, Hero Honda has reserved the rights to use technology and brand names associated with Honda till June, 2014.
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