Rajiv Bajaj, Managing Director of Bajaj Auto, will step down from the board of Bajaj Finserv as he seeks to reduce external commitments and devote greater attention to the automaker’s expanding business interests, including its recent acquisition of KTM and the launch of new ventures.
Will not seek re-election
In a stock exchange filing on Tuesday, Bajaj Finserv said Rajiv Bajaj, who serves as a non-executive director on the company’s board, has informed the company that he will not seek re-election at its Annual General Meeting (AGM) scheduled for July 31, 2026.
As a result, he will cease to be a director of Bajaj Finserv upon his retirement by rotation at the AGM.
Rising responsibilities at Bajaj Auto
According to the filing, Rajiv Bajaj cited increasing responsibilities at Bajaj Auto as the key reason behind his decision. The company said his role has expanded significantly in recent years following the establishment of Bajaj Auto Technology Ltd. and Bajaj Auto Credit Ltd.
The recent acquisition of KTM has also added to his leadership responsibilities as Bajaj Auto looks to strengthen its position in the global two-wheeler market.
Focus on core business
With these developments demanding greater attention, Rajiv Bajaj expressed his desire to reduce other professional commitments and concentrate on Bajaj Auto’s strategic priorities and growth initiatives.
Consequently, he chose not to offer himself for re-election to the Bajaj Finserv board at the upcoming AGM.
Board records appreciation
The board of directors of Bajaj Finserv took note of Rajiv Bajaj’s decision and placed on record its gratitude and appreciation for his contributions during his long association with the company.
His departure marks the end of a significant stint on the board of Bajaj Finserv, while signalling a sharper focus on steering Bajaj Auto through its next phase of expansion and diversification.