Bajaj Auto Board Approves Reappointment Of Rajiv Bajaj As Managing Director And Chief Executive Officer
Bajaj Auto Ltd. on Wednesday said its board has approved the re-appointment of Rajiv Bajaj as managing director and chief executive officer of the company.
The approval was given in the board meeting held on Tuesday. "Rajiv Bajaj, Managing Director and CEO of the company, whose five-year term expires on March 31, 2020, has been re-appointed for a further period of five years with effect from April 1, 2020," the company said in a filing to Bombay Stock Exchange.
However, the re-appointment is subject to the approval of the shareholders of the company at the ensuing annual general meeting, it said. The board also approved the appointment of Gita Piramal as an independent director of the company, whose five-year term as independent director expires on March 31, 2020, as per the filing. The shares of Bajaj Auto were trading at Rs 2,220.25 apiece on BSE, down 2.37 percent from the previous close.