Rahul Bajaj resigned as chairman of Bajaj Auto, the two- and three-wheeler company said on Thursday. Niraj Bajaj has been appointed as the chairman of the company with effect from May 1. Rahul Bajaj has been named as the company's chairman emeritus for five years with effect from May 1. "Rahul Bajaj, having been at the helm of the company since 1972 and the Group for five decades, considering his age, has tendered his resignation as non-executive director and chairman of the company with effect from close of business hours on 30 April 2021. The board has approved his appointment as chairman emeritus of the company for a term of five years with effect from 1 May 2021," said Bajaj Auto while announcing its fourth quarter results.