- Rajiv Bajaj’s tenure as CEO of Bajaj Auto was to be expired on 31st 2020, but the board has reappointed him as the CEO for the next 5 years.
A global two-wheeler Indian automobile company based in Pune is reappointing Rajiv Bajaj as its CEO for the next 5 years. The automobile company mentioned in a filing to the Bombay Stock Exchange.
Along with Rajiv Bajaj, the board also approves the appointment of Gita Piramal as an independent director of the company (whose tenure was also to be expired on 31st March 2020).
Bajaj Auto founded by Jamnalal Bajaj in Rajasthan 80 years back. Yes, 80 years! But such a long wait comes with an amazing milestone achievement. Bajaj Auto is the world’s third-largest manufacturer of motorcycles and second-largest in India.
With a market cap of ₹629.63 billion, Bajaj Auto is India’s 23rd largest publicly traded company by market value.
Let’s not forget those three-wheeler autorickshaws running from one place to another on the streets from a busy road to the nearest metro. Then Bajaj’s Renault comes speeding on the roads and overtakes these thee wheeler autos.
Every third bike you see on the Indian roads is either a Pulsar, Avenger or Dominar. All coming out from the manufacturing hubs of Bajaj Auto.
Some time ago, Bajaj’s superstar product, Bajaj Chetak – India’s two-wheeler scooter was pulled out of production. Now, Bajaj Auto is back with a bang with its electronic version in the two-wheeler segment as Bajaj Chetak.
Such humongous growth can only be taken care of by someone who has a hunger to grow. Rajiv Bajaj seems to be a perfect fit as CEO of Bajaj Auto. He introduced the Pulsar bike range of motorcycles and went ahead to become 42nd person in India’s 50 most powerful people in 2017.
CEO of Bajaj Auto is not only known for his hunger to grow, but his extrovert personality speaks a lot about his boldness. Last year, Rajiv Bajaj was in the news when he commented that his father raised a sensitive and subjective issue at the wrong platform.
Rajiv Bajaj was dissatisfied with the government in the past regarding electronic vehicle policy. In2017, he doubted the government’s demonetization move countrywide.
Finance minister Nirmala Sitharaman said that criticizing the government can hurt national interest it gains traction.
Bajaj Auto couldn’t just let such a bold personality walk away from its doors. This is why the board has welcomed his reappointment as CEO of Bajaj Auto. Can we see a hattrick here?
Summing Up:
People daunting about electronic vehicles are amazed to see India’s favorite two-wheeler scooter back on the streets. While there are some big plans from Bajaj Auto, the automobile industry doesn’t seem to be a cash cow for any carmaker.
While Rajiv Bajaj has been with the automobile company during its growth, the company wants him to be during the difficult phase. Bajaj Auto is putting its bets on Rajiv Bajaj. On behalf of Next Big Brands, we wish all the best to Rajiv Bajaj as its CEO.
