Niraj Bajaj is appointed as the new Chairman of the company, with effect from May 1, 2021

Rahul Bajaj steps down as the non-executive director and chairman of Bajaj Auto with effect from April 30, 2021.

In a regulatory filing, the company said, "Rahul Bajaj, non-executive chairman, having been at the helm of the company since 1972 and the Group for five decades, considering his age, has tendered his resignation as the non-executive director and chairman of the company with effect from close of business hours on April 30, 2021."

Rahul Bajaj has been announced as the Chairman Emeritus of Bajaj Auto for five years. He took over as Chief Executive Officer of Bajaj Auto in 1968 and was at the helm of Bajaj Auto for nearly 49 years.

"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 May 1, 2021,” the company added.