Auto major Bajaj Auto recently announced that its shareholders have approved the re-appointment of Rajiv Bajaj as Managing Director and Chief Executive Officer.
Through a BSE filing, the company said, “Rajiv Bajaj 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.”
Rajiv has been associated with Bajaj Auto since 1991 and has worked across different areas of Manufacturing, R&D, and Marketing. He was appointed as the company MD in April 2005.
Along with Rajiv’s reappointment, the company board also approved the appointment of Gita Piramal as Independent Director of the company.
As per the filing, Gita’s five-year term as Independent Director was also supposed to be expiring on March 31, 2020.
The company also notified that starting from April 2020 Chairman and whole-time Director Rahul Bajaj will also step down from his position, ending a 50-year association with the country’s largest exporter.
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