Fri. Mar 29th, 2024
Bajaj Auto

Rahul Bajaj, who has helmed Bajaj Auto for 49 years, yesterday announced that he will withdraw from the position of non-executive chairman position of Bajaj Auto. Rahul Bajaj had already retired from the post of executive chairman position last year and agreed to hold the non-executive position. After KM Mammen Mapillai, founder of MRF, Rahul Bajaj has been one of the longest serving chairman of any Corporate in India.

Due to his age, he proposed his resignation. Rahul Bajaj shall turn 83 in June. He had already stepped down  as chairman of Bajaj Finance and later at Bajaj Finserv in 2020. His position was taken over by his younger son, Sanjiv Bajaj at both the finance companies.

In view of such circumstances, Niraj Bajaj, cousin of Rahul Bajaj has been appointed as the Chairman of Bajaj Auto and Rajiv Bajaj will be handling his position of Managing Director as before.

Niraj Bajaj with 35 years of experience in this field, has held many important positions in various companies of Bajaj Group. He became a part of Bajaj in September 2006. With an MBA from Harvard Business School in US, he has many business accolades to his credit.  He also serves as one of the board of directors of Bajaj Allianz Life and General Insurance.

According to the company’s statement, 82-year-old Rahul Bajaj has decided to leave the post citing age. Rahul Bajaj, the company’s non-executive director, has been associated with Bajaj Auto since 1972 and the Bajaj Group of Companies for the last five decades. He will now be in the role of a consultant in the company after the board approved this decision. Rahul Bajaj’s net worth is around $ 6.5 billion.

Company also mentioned that Rahul Bajaj has contributed immensely to the success of the company and the group over the last five decades. Given his tremendous experience and his expertise, knowledge in the interests of the company, and his role as an advisor and a mentor from time to time, the Board of Directors appointed Rahul Bajaj as Chairman Emeritus of the Company with effect from 1 May, 2021.

Rahul Bajaj has been helmed as a Visionary who led his company through all the ups and downs, emergency, Licence Raj and change in economic policies of 1990’s. He is credited with making Bajaj a household name with his marketing tagline of ‘Humara Bajaj’ and blockbuster models such as the Chetak and Priya in the 1970.

By Harshita Sharma

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