Bajaj Auto on Thursday announced that it has named Rahul Bajaj as Chairman Emeritus of the company for the next five years after he resigned as Non-Executive Chairman of the automotive giant.
Meanwhile, company informed in a regulatory filing that Niraj Bajaj, non-executive Director of the company, has been appointed as Chairman of Bajaj Auto with effect from 1 May.
"Rahul Bajaj has made a huge contribution to the success of the Company and the Group over the last five decades. 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 five years with effect from 1 May 2021," the company said in a statement.