India’s second largest two-wheeler maker, Bajaj Auto, announced the resignation of non-executive director Shekhar Bajaj, with effect from June 30, 2022.
The Pune-based automaker clarified that the resignation was due to Shekhar Bajaj’s health reasons. The 74-year-old Shekhar Bajaj is the Chairman and Managing Director of Bajaj Electricals.
“We wish to inform that Shekhar Bajaj has tendered his resignation as Non-executive Director of the Company with effect from close of business hours on June 30, 2022,” Bajaj Auto said in the stock exchange disclosure.
Grandson of founder
Besides Bajaj Electricals and Bajaj Auto, Shekhar Bajaj, who is grandson of Bajaj Group founder Jamnalal Bajaj and cousin of Rahul Bajaj the former chairman of Bajaj Auto, is on the board of Bajaj Ventures, Hercules Hoists and Hind Lamps
With Shekhar Bajaj’s exit the representation of the Bajaj family on Bajaj Auto’s board will be down to four directors or 30 percent comprising Niraj Bajaj, Madhur Bajaj, Rajiv Bajaj and Sanjiv Bajaj.
Born on June 8, 1948, Shekhar Bajaj is an honours graduate in Science from Pune University with an MBA from New York University. He started his career as resident director of Bajaj Sevashram in Udaipur in 1968.
From 1969-72, he served as the joint Managing Director of Bachhraj Factories in Mumbai and took over as its Chief Executive in 1974. In 1975, he was appointed part-time Managing Director of the Mumbai-based Bajaj International and later its whole-time Managing Director.