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Rahul Bajaj to step down as Chairman of Bajaj Finance

Sanjiv Bajaj will assume the position of Non-Executive Chairman with effect from August 1.

July 21, 2020 / 03:15 PM IST

Rahul Bajaj will step down as Non-Executive Chairman of Bajaj Finance on July 31, 2020.

He will continue to be a non-executive non-independent director of the company.

Sanjiv Bajaj, currently the Vice Chairman of Bajaj Finance, will assume the position of Non-Executive Chairman with effect from August 1, the company said in a statement to stock exchanges.

"The Board of Directors, at its meeting held today, has approved the appointment of Shri Sanjiv Bajaj, currently the Vice Chairman of the company, as Non-Executive Chairman of the company with effect from l August 2020, in place ofShri Rahul Bajaj," Bajaj Finance said.

Sanjiv Bajaj is also the Chairman and Managing Director of Bajaj Finserv, and the Chairman of Bajaj Allianz.

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On July 21, Bajaj Finance reported a consolidated net profit of Rs 962 crore for the quarter that ended on June 30, a 19 percent drop YoY.
Moneycontrol News
first published: Jul 21, 2020 02:25 pm

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