BREAKING NEWS : Rahul Bajaj will step down as Chairman of Bajaj Finance

Mumbai: Noted industrialist Rahul Bajaj will step down as Non-Executive Chairman of Bajaj Finance on July 31, and he will be succeeded by Sanjiv Bajaj. Sanjiv Bajaj, currently Vice Chairman, the Bajaj Finance said in a regulatory filing on Tuesday

Rahul Bajaj, Non-Executive Chairman of the company, having been at the helm of the company since its inception in 1987 and the group for over five decades, as part of succession planning, has decided to demit the office as chairman of the board with effect from close of business hours on July 31, 2020,” the company said.

Rahul Bajaj, however, will continue to serve the company as a non-executive non-independent director. The company’s board has approved the appointment of Sanjiv Bajaj as Non-Executive Chairman of the company with effect from August 1, 2020, in place of Rahul Bajaj, the filing said.