INDUSTRIALIST EMERITIUS LIFE AND ACHIEVEMENT

Industrialist Rahul Bajaj has resigned as non-executive director and chairman of Bajaj Auto Ltd
due to age. The company board has appointed him as chairman emeritus for next five years.
Niraj Bajaj has replaced Rahul Bajaj as chairman of the company. 

 
In a regulatory filing, Bajaj Auto says, "Rahul Bajaj, non-executive chairman of the company,
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. In place of Rahul Bajaj, the
outgoing chairman of the company, Niraj Bajaj, non-executive director of the company has been
appointed as chairman of the company with effect from 1 May 2021."
 
Rahul Bajaj has been at the helm of Bajaj Auto since 1972 and of the Bajaj Group for almost five
decades. 
 
The company says, "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 and as recommended by
nomination and remuneration committee has approved the appointment of 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 (AGM) for the approval of the
shareholders."
 
After his father Kamalnayan Bajaj passed away in 1972, Rahul Bajaj was appointed as the
managing director (MD) of Bajaj Auto. 
 
In 2008, he split Bajaj Auto into three units - Bajaj Auto, finance company Bajaj Finserv and a
Bajaj Holdings & Investment. His sons, Rajiv and Sanjiv are now managing the day-to-day
affairs of the companies.
 
In 2001, Rahul Bajaj was awarded the third-highest civilian award Padma Bhushan. During 2006
to 2010, Mr Bajaj was elected to the Rajya Sabha, India's Upper House of Parliament.