On Thursday, Bajaj Auto introduced that Rahul Bajaj can be stepping down from his position as the corporate’s Non-Executive Director and Chairman with impact from the shut of enterprise hours on April 30, 2021.
Bajaj has introduced that Rahul will grow to be the Chairman Emeritus of the corporate for 5 years after he resigned as its Non-Executive Chairman. Meanwhile, Niraj Bajaj will sit on the helm of the corporate with impact from May 1, as the non-executive Director of the corporate.
In its regulatory submitting with the Bombay Stock Exchange (BSE), Bajaj Auto mentioned that Rahul Bajaj, Non-executive Chairman, having been on the helm of the corporate since 1972 and the Group for 5 many years. The firm added that contemplating his age, it has tendered his resignation as non-executive director and Chairman of the Company with impact from shut of enterprise hours on 30 April 2021.
“Rahul Bajaj has made an enormous contribution to the success of the Company and the Group over the past 5 many years. Considering his large expertise and within the curiosity of the Company and to proceed to learn from his expertise, data and knowledge sometimes in an advisory position and as a mentor, the Board of Directors at its assembly held at present and as really helpful by Nomination and Remuneration Committee has authorised the appointment of Shri Rahul Bajaj as Chairman Emeritus of the Company for a time period of 5 years with impact from 1 May 2021,” the assertion added.
Alongside the massive announcement, Bajaj Auto additionally launched its earnings for This autumn FY21 on Thursday. The firm’s web revenue jumped 2% to Rs 1,332 crore. In This autumn FY20, Bajaj had posted a web revenue of Rs 1,310 crore. Meanwhile, its income soared 26% yr on yr to Rs 8,596 crore. Shareholders will get a dividend of Rs 140/share.
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