Thursday, Mar 10, 2005
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MUMBAI, MARCH 9. The board of Bajaj Auto has appointed Rahul Bajaj as the Chairman for a five-year term beginning April 1, while his son Rajiv Bajaj would take over as the Managing Director.
At a meeting today, the board appointed Mr. Rahul Bajaj as the Chairman and Mr. Rajiv Bajaj, who is now the Joint Managing Director of the company, as the Managing Director for a five-year term, a company release said here today.
The company Vice Chairman and Mr. Rahul Bajaj's cousin, Madhur Bajaj, whose term expires on November 5, has been re-appointed as the Vice Chairman of the company for a fresh term up to March 31, 2010,.
Mr. Rahul Bajaj had last week said he would step down as Managing Director in favour of his son Mr. Rajiv Bajaj.
He had said that operations of the company would henceforth be mostly managed by Bajaj's two sons Rajiv and Sanjiv.
As per the new set-up, Mr. Rajiv Bajaj would be handling a majority of operations including production, marketing, supply chain, manufacturing and production engineering.
The younger brother Mr. Sanjiv Bajaj will head the international business, marketing and other functions such as finance, treasury, costing, secretariat, legal and corporate governance.
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