Industry

Rahul Bajaj resigns as Bajaj Finserv chairman

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To takeover as chairman emeritus

Bajaj Finserv on Wednesday said its chairman and non-executive director Rahul Bajaj has resigned and will take over as the chairman emeritus from May.

Mr. Bajaj, 80, in a letter dated February 15, 2019, tendered his resignation which would be effective from the conclusion of the board meeting scheduled for May 16, 2019, the company said in a regulatory filing.

His appointment as chairman emeritus will be effective from May 16, 2019, it added.

“The board of directors has appointed Nanoo Pamnani as independent non-executive chairman in place of Rahul Bajaj, with effect from May 17, 2019,” it said. The firm has also approved the reappointment of independent directors D.J. Balaji Rao, Nanoo Pamnani and Gita Piramal for a second term of five years. While the appointment of the former two will take effect from April 1, Dr. Piramal’s term will begin from July 16, 2019.

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Printable version | Jan 26, 2020 4:45:41 PM | https://www.thehindu.com/business/Industry/rahul-bajaj-resigns-as-bajaj-finserv-chairman/article26525006.ece

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