Ace shooter and Olympic gold medallist Abhinav Bindra has been appointed as additional and independent director on the board of Bajaj Auto.
Bindra has been appointed for a period of five years effective from May 20, 2020, subject to approval of the shareholders of the company at the ensuing Annual General Meeting. The AGM is scheduled to be to be held on July 22, 2020.
Bindra fills the vacant spot created due to the demise of Nanoo Pamnani. Bindra is not related to any of the existing directors of the company, Bajaj Auto clarified.
Bindra has held the position of a director in several companies, including Pizza Vito a chain of pizza outlets, which was co-founded by Bindra. He, however, has never been on board of a company of the size of Bajaj Auto.
Bindra's appointment is the second such announcement with regards to directorship on the Bajaj Auto board in two months. In March, Rajiv Bajaj, managing director and CEO, was reappointed for a further period of five years.
In the same month entrepreneur Gita Piramal was reappointed as an independent director for the second term for five years.
Bajaj Auto on May 20 reported 0.4 percent rise in net profit for the March quarter to Rs 1310 crore supported by a lower tax rate and higher other income.
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