Longtime Bajaj Auto Leader Bids Adieu: Madhur Bajaj Steps Down for Health

25 Jan 2024 , 01:14 AM

 On Wednesday, Bajaj Auto Ltd said that Madhur Bajaj, its vice chairman, had resigned for personal health reasons. Madhur Bajaj has offered his resignation from his position with the company, effective as of January 24, 2024, at the conclusion of business hours, according to a regulatory filing by Bajaj Auto.

In his letter of resignation, Bajaj expressed his desire to leave his position as vice chairman and non-executive director of Bajaj Auto due to his advanced age, health, and 44 years of service to the company.

‘I believe now is the time for me to pursue my other interests and commitments,’ he stated.

Furthermore, according to Bajaj Auto, independent director Lila Poonawalla has stated that she does not intend to run for office again once her current term expires on March 31, 2024.

The board has proposed to the shareholders that Vinita Bali be appointed as an independent director for the first five-year term beginning on April 1, 2024, and has approved Pradip Shah’s reappointment as an independent director for a second five-year term beginning on April 1, 2024.

According to the filing, the business will ask shareholders for permission to re-appoint Shah and Bali.

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