Apart from Rajiv Bajaj, the board of the company has also approved re-appointment of Gita Piramal as an Independent Director for Bajaj Auto.
Pune-based two-wheeler auto major Bajaj Auto on Wednesday said its shareholders have approved re-appointment of Rajiv Bajaj as MD and CEO.
In a regulatory filing to BSE, the company said, “Rajiv whose five-year term expires on 31 March 2020, has been re-appointed for a further period of 5 years w.e.f. 1 April 2020, subject to the approval of the Shareholders of the Company at the ensuing Annual General Meeting.”
It also stated that “Rajiv Bajaj is not related to any of the Directors of the Company except Rahul and Sanjiv .”
Rajivnayan Rahulkumar Bajaj, born on 21 December 1966, graduated first in class, with distinction, in Mechanical Engineering from the University of Pune in 1988, and then completed his masters in Manufacturing Systems Engineering, with distinction, from the University of Warwick in 1991.
He has since worked at Bajaj Auto Ltd. (Bajaj Auto) in the areas of Manufacturing and Supply Chain (1990-95), R+D and Engineering (1995-2000) and Marketing and Sales (2000-2005) and has been its Managing Director since April 2005.
He has won a number of awards and recognitions. from various prestigious bodies & institutions for his Business Leadership, Entrepreneurship and Innovation.
Apart from Rajiv , the board has also approved the re-appointment of Gita Piramal as an Independent Director of the Company, whose five-year term as Independent Director expires on 31 March 2020.
Moreover, starting from April 1 2020, Rahul Bajaj will step down as the chairman and whole-time director ending an over 50-year stint at the helm of India’s largest exporter.