 Rahul
Bajaj (62) has decided to step down as MD of
Bajaj Auto after the expiry of his current term,
and is likely to pass on the baton to his elder
son, Rajivnayan Bajaj.
Talking to newspersons on the sidelines of the
launch of Eliminator, Rahul Bajaj said, "I
will not seek an extension for the post of MD
after my current term expires in over four years."
Adding a rider in the true Bajaj style, he said,
though an heir to the empire is yet to be finalised,
it is most likely to be his elder son. He, however,
wishes to continue as the Chairman of the Company.
He further hinted at the possibility of an earlier
retirement, "If I feel Rajiv is ready
to take on the responsibilities before my current
tenure comes to an end. Like Ratan Tata, I am
thinking of remaining just a Chairman and overseeing
the activities at a macro level."
Bajaj was initially a Director on the managing
agency for Bajaj Auto Ltd and became the Company's
MD on April 1, 1970. Following the demise of his
father, Bajaj took over as the Chairman and MD
on May 1, 1972. He was elected to the current
term early last year 2000. Rajiv (34) has a degree
in engineering and a degree in manufacturing engineering
from the UK. He is currently assisting his father
as President of Bajaj Auto, while younger son
Sanjiv is GM (Corporate Finance). "I have
handed over almost the entire day-to-day functioning
of Bajaj Auto to a group of professionals, including
my sons Rajiv and Sanjiv and soon, I will totally
withdraw myself from the daily functioning of
the Company," Rahul Bajaj said.
Text & photo: Courtesy Pune
Times
|
