Hero MotoCorp's Chairman Pawan Munjal volunteered to reduce his fixed salary by 20% following his decision to separate the roles of Chairman and CEO and appoint a CEO for the company. The same was approved by the Board of Directors. In FY23, Pawan Munjal was paid a remuneration of ₹99.55 crore, which was 18% higher than his previous year's remuneration.