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Rahul Bajaj announced that he will step down from the non-executive chairman position of Bajaj Auto. The decision is already in effect after his announcement yesterday. Rahul Bajaj had already stepped down from the executive chairman position last year to hold the non-executive position.
Bajaj is one of the longest-serving chairmen in any of the corporates in India. In fact, Rahul Bajaj is the second-longest serving chairman in India after KM Mammen Mappillai, who is the founder of MRF. He held the post for 51 years.
”Shri Rahul Bajaj, Non-executive Chairman of the Company, having been at the helm of the Company since 1972 and the Group for five decades, considering his age, has tendered his resignation as a non-executive director and Chairman of the Company with effect from close of business hours on 30 April 2021,” said Bajaj Auto in its statement today.