Industrialist OP Munjal, Chairman Emeritus of Hero Cycles and one of the founders of the Hero Group, passed away on Thursday after <g data-gr-id="21">brief</g> illness. Munjal (87) breathed his last in the DMC Hero Heart Centre, his family said, adding the last rites will be performed on Friday. Faced with health related issues for the past few months, Munjal had retired from active role in the business last month and his son Pankaj Munjal succeeded him as the Chairman and Managing Director of the Hero Motors group. Munjal along with his three brothers Brijmohan Lall Munjal, Dayanand Munjal and Satyanand Munjal started bicycle spare parts business in Amritsar in 1944. Subsequently they moved their base to Ludhiana naming the company 'Hero' and set up India's first bicycle manufacturing unit in 1956.