Auto major Bajaj Auto shareholders have approved the re-appointment of Rajiv Bajaj as MD and CEO.
In a regulatory filing to BSE, 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.”
It also stated “Rajiv Bajaj is not related to any of the Directors of the Company except Rahul Bajaj and Sanjiv Bajaj.”
Rajiv has worked with Baja Auto since 1991 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.
The board also approved the appointment of Gita Piramal as independent director of the company, whose five-year term as independent director expires on March 31, 2020, as per the filing.
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.