On Thursday Bajaj auto announced that Rahul Bajaj has resigned as the non-executive director and chairman of the company. From May 1, 5 years back he was appointed as Chairman Emeritus of the auto major.
About- Shri Rahul Bajaj
He is the chairman of Bajaj Auto, I was born on June 13 1938 in Calcutta. His grandfather Jamnalal Bajaj founded the Bajaj group in 1926 and his father kamalnayan Bajaj succeeded him in 1942 and that was the time when he led the company to be one of the biggest and names in the marketplace.
He graduated in 1958 from St Stephen’s college in Delhi and also earned a degree in law from Bombay university later. After that he went on to pursue MBA from Harvard Business School in the United States and later in 1968 he became the chief executive officer of Bajaj Auto.
The beginning to be a part of the business started being a Deputy General manager where he was in charge of key departments in the company that accounts, purchase, marketing, and audit.
Under his leadership, the company witnessed exponential growth and built the form in the 1970s and 80s on another level.
And as per the time and need, changing trends or Technology he made necessary changes to expand from its first product Chetak, and now dealing with several automobiles including bikes.
Awards and recognitions
In 1986 he was appointed as the chairman of Indian airlines and was awarded Padma Bhushan in 2001. In 2006 he was elected to Rajya Sabha from Maharashtra and in 2013 the Bajaj family won the distinguished family of the year award. The reason behind this was dedicating their wealth and time for the public good.
In one of the exchange filing, Bajaj Auto stated that Neeraj Bajaj, Non-Executive Director of Bajaj Auto has been now appointed as its chairman with effect from 1 May 2021.
Since 1972 Rahul Bajaj has been at the helm of the company and of the Bajaj group for around five decades. He has tendered his resignation while considering his age.
The news and his resignation will come into effect from the close of business hours on April 30, 2021, that is tomorrow.
Now coming to the contribution he made and how he led the company to the ultimate heights is something to be noted. He was a great pillar to the success of the company and the group over the last five decades.
Lastly, the official statement from Bajaj Auto and Group states- “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 Shri Rahul Bajaj as chairman emeritus of the company for a term of 5 years with effect from first May 2021”.