Rahul Bajaj steps down as Chairman of Bajaj Auto
Niraj Bajaj has been appointed as the new Chairman of Bajaj Auto Limited.
Rahul Bajaj will be stepping down from the position of Non-executive Chairman of Bajaj Auto Limited from April 30, 2021. He will be replaced by Niraj Bajaj who is currently the Non-executive Director of the company.
According to the company, Rahul Bajaj has decided to resign from his post considering his age. He has been heading the 2-wheeler brand since 1972. He will continue to serve as Chairman Emeritus of the company.
Rahul Bajaj has made a huge contribution to the success of the Company and the Group over the last five decades. Considering his tremendous experience and in the interest of the Company and to continue to benefit from his experience, knowledge and wisdom from time to time in an advisory role and as a mentor, the Board of Directors at its meeting held today and as recommended by Nomination and Remuneration Committee has approved the appointment of Shri Rahul Bajaj as Chairman Emeritus of the Company for a term of five years with effect from 1 May 2021. This will be taken up at the ensuing annual general meeting for the approval of the shareholders.
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