Bajaj Finserv reappoints Sanjiv Bajaj as Managing Director on Board; Stock soars 2%

17 Mar 2022 , 11:25 AM

Bajaj Finserv Ltd has informed that based on the recommendation of the Nomination and Remuneration Committee of the Company, the Board of Directors on March 16, 2022, has re-appointed Sanjiv Bajaj as the Managing Director of the Company for a further period of 5 years w.e.f. April 01, 2022, subject to the approval of the Shareholders of the Company.

Sanjiv Bajaj, born on 02 November 1969, graduated first-class with distinction in B.E. (Mech) from the University of Pune, and then completed M.Sc. (Manufacturing Systems Engineer) with distinction from the University of Warwick, UK, and further holds Master’s degree in business administration from Harvard Business School, the USA.

He has been Managing Director since 2008 and since 2020 holds the position of Chairman and Managing Director. His present term as an MD will end on 31 March 2022. He also has been appointed as President Designate of CII. He is also on the Board of several Bajaj Group Companies as its Chairman.

Sanjiv Bajaj is related to Rajiv Bajaj (Brother), who is also on the Board of the Company.

At around 11;29 AM, Bajaj Finserv was trading at Rs16,414.45 apiece up by Rs297.5 or 1.85% on the BSE.