New Delhi: Rahul Bajaj, head of Bajaj Finance, has taken a big decision. He has announced his removal from the post of chairman of the company at the end of this month. Rahul Bajaj is scheduled to step down as chairman of Bajaj Finance on 31 July 2020. However, he will continue to serve as the non-executive director of the company's non-executive director.
However, as soon as the news came in the Indian stock market that Rahul Bajaj is going to step down as the chairman of Bajaj Finance, the stock prices of the company started falling. Where the company's shares were already falling due to weak quarterly results. After the news of Rahul Bajaj's decision, the shares of the company were seen trading on the Bombay Stock Exchange (BSE) major index Sensex, falling by 6.5%.
Bajaj Finance, informing the stock market regulator, has said that Rahul Bajaj will be replaced by his son Sanjeev Bajaj. Rahul Bajaj, the non-executive chairman of Bajaj Finance, is handling the functioning of the company till the start of the company. This company was started in 1987. Instead of Rahul Bajaj, his son Sanjeev Bajaj will become the new chairman of the company from August 1, who is currently the post of Vice Chairman of the company.
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