It’s the end of an era at Bajaj Auto. Effective May 1, Rahul Bajaj, Bajaj Group patriarch who has been at the helm of the company for over five decades, will move to the role of chairman emeritus, making way for his younger sibling Niraj Bajaj.
This follows his resignation from the holding company Bajaj Holdings & Investments and listed companies that include Bajaj Auto and Bajaj Finserv, on January 30, 2020. He had been wholetime director and chairman of the automobile-making arm since April 1, 1970.
“Rahul Bajaj has resigned as non-executive director and chairman of the company. He has been appointed as chairman emeritus of the auto major for a term of five years with effect from May,” the company said in a stock exchange notification.
For January-March quarter, Bajaj Auto reported a 15 per cent growth in net profit at Rs 1,551 crore, while turnover grew 21 per cent to Rs 8,880 crore.
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.
Bajaj Auto names Rahul Bajaj as Chairman Emeritus
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Bajaj Auto on Thursday announced that it has named Rahul Bajaj as Chairman Emeritus for five years after he resigned as Non-Executive Chairman of the company.
Niraj Bajaj, non-executive Director of the company, has been appointed as Chairman of Bajaj Auto with effect from 1 May, the company said in a regulatory filing.
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Wells Fargo goes on the offensive with new no-fee, 2% c .. 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
At meeting held on 29 April 2021The Board of Bajaj Holdings & Investment at its meeting held on 29 April 2021 has approved the appointment of Dr. Omkar Goswami as an Additional Director and as an Non-executive Independent Director for a period of 5 years effective from 1 May 2021.
Considering the increasing roles and responsibilities in various Bajaj group entities, Niraj Bajaj has expressed his intention to relinquish his position as Chairman of the Company with effect from close of business hours of 30 April 2021. However, considering his valuable performance as Chairman of the Company over the past two years and to
leverage his experience, the Board at its meeting held today, has approved the appointment of Niraj Bajaj as the Non-executive Vice-chairman of the Company with effect from 1 May 2021.