According to the company statement, Mr. Rahul Bajaj have resigned from his current position, where his positions will be taken by Mr. Niraj Bajaj, will come into effect from 1st May 2021.
“Rahul Bajaj, non-executive chairman of the company, 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 April 30, 2021,” the company said in a statement.
After 50 year of stint as an executive roles, company have become 2nd largest 2 wheeler manufacturer, having available leading roles into Electric vehicle as well.
“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 today 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 May 1, 2021,” the company said.
