Bajaj Auto has re-appointed Rajiv Bajaj as the Managing Director and CEO of the company, the two-wheeler maker said in a regulatory filing. The board approved the re-appointment on Tuesday for a period of five years with effect from April 1, 2020. The Bajaj boss' current term was set to expire on March 31, 2020. That said, the re-appointment is subject to the approval of the shareholders of the manufacturer that will take place at the ensuing annual general meeting.
The BSE filing from Bajaj Auto read, "Rajiv Bajaj, Managing Director and CEO of the company, whose five-year term expires on March 31, 2020, has been re-appointed for a further period of five years with effect from April 1, 2020." the company said in a filing to BSE.
In addition, the board approved the appointment of Gita Piramal as an independent director of the company, whose five-year term in the same position was scheduled to expire on March 31, 2020.
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On the product front, Bajaj Auto is introducing a host of new offerings right from BS6 compliant Pulsar range that have already started rolling into dealerships, as well as the new Bajaj Dominar 250. Meanwhile, Bajaj's partner company KTM has introduced the Husqvarna brand in India with the launch of the Svartpilent 250 and Vitpilen 250 motorcycles. The company has also ventured into the electric mobility space with the Chetak scooter range, which is set to grow in the coming years. All the bikes are manufactured at the manufacturer's facility in Chakan, Maharashtra. More recently, the company introduced its BS6 range of three-wheelers.