Bajaj Auto has announced that Rahul Bajaj, the director and executive chairman of the company, will step down from his current role and assume the role of non-executive chairman from April 1, 2020. His tenure as executive chairman is set to end on March 31.
During his five-decade-long tenure as executive chairman, Rahul Bajaj has served at the upper echelons of the two-wheeler and three-wheeler major. He took over Bajaj Auto on April 1, 1970 and was last re-appointed by the board for a five-year term in April 1, 2015. In a meeting today, the Board of Directors at Bajaj Auto also decided that Rahul Bajaj’s designation as chairman of the company from April 1, 2020, is subject to shareholder approval.