Bajaj Auto on Wednesday announced that the board has approved the re-appointment of Rajiv Bajaj as Managing Director and CEO of the company.
“Rajiv Bajaj, Managing Director and CEO of the company, whose five-year term expires on March 31, 2020, has been re-appointed for a further period of five years with effect from April 1, 2020,” the company said in a filing to BSE.
However, the re-appointment of Rajiv Bajaj to approval of the shareholders of the company at the ensuing annual general meeting, it said.
The board also approved the appointment of Gita Piramal as an independent director of the company, whose five-year term as independent director expires on March 31, 2020, as per the filing.
The shares of Bajaj Auto were trading at Rs 2,220.25 apiece on BSE, down 2.37 percent from the previous close.
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