Rahul Bajaj steps down as Chairman of Bajaj Finance; paves way for son Sanjiv

Noted industrialist Rahul Bajaj will step down as Non-Executive Chairman of Bajaj Finance on July 31, after being at the helm of the company for over three decades. He will be succeeded by Sanjiv Bajaj, currently Vice Chairman, the Bajaj Finance.

Mumbai: Rahul Bajaj, the current Chairman of Bajaj Finance Ltd, one of the largest players in consumer finance segment, on Tuesday has decided to demit the office as Chairman of the Board from July 31.

Bajaj has been at the helm of the company since its inception in 1987 and the group for over five decades.

He will, however, continue to serve the company as a Non-Executive Non-Independent Director.

"The board of directors at its meeting held today has approved the appointment of Sanjiv Bajaj, currently Vice Chairman of the company, as Non-Executive Chairman with effect from August 1 in place of Rahul Bajaj," the filing said.

(With ANI Inputs)