Bajaj Auto announced on Tuesday that Shekhar Bajaj has resigned as a non-executive director owing to health concerns. According to a regulatory filing, the resignation will take effect on June 30, 2022.
Shekhar Bajaj began his career with Bajaj Sevashram before moving on to Bajaj International, the group’s export subsidiary. Bajaj started with Bajaj Electricals in 1980, rose through the ranks to become Managing Director in 1987, and then Chairman and Managing Director in 1994.
He was previously the President of ASSOCHAM, as well as the former President of the Indian Merchant Chambers (IMC) and the Council for Fair Business Practices (CFBP).
Since 1994, Shekhar Bajaj has served as the chairman and managing director of Bajaj Electricals. The stock of Bajaj Auto was among the top losers yesterday.
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