Companies

Niraj to take over from Rahul as Bajaj Auto chairman

Our Bureau Mumbai | Updated on April 29, 2021

Niraj Bajaj

Rahul Bajaj to continue as Chairman emeritus

Nearly 50 years after he took over the reins of the company, Rahul Bajaj stepped down as Chairman of Bajaj Auto. His cousin, Niraj Bajaj, has been named the Chairman with effect from May 1.

In 1972, Rahul Bajaj took over the small family business of scooters, cement and electrical appliances from his father Kamalnayan. Through the 1970s and the 1980s, he turned the company into a household name through campaigns like Hamara Bajaj.

“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 Rahul Bajaj as Chairman-Emeritus of the company for five years with effect from May 1, 2021,” said a company statement.

The biggest decision by Rahul was when Italy’s Piaggio didn’t renew Bajaj’s licence. He began manufacturing his own brand of scooters with names like Chetak and Super. Rahul also ensured smooth transfer of his power to his sons by dividing business interests between the two of them. In 2008, he split the company into three units — Bajaj Auto, finance company Bajaj Finserv and a holding company. While Rajiv Bajaj manages the auto business, the finance company is under younger brother Sanjiv.

In corporate circles, Rahul Bajaj is considered as one who does not mince words. Retiring at 82, he may just have time to raise issues of national importance.

 

Published on April 29, 2021

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