Rahul Bajaj will leave the post of Chairman of Bajaj Finance

[caption id="" align="alignnone" width="750"]Bajaj finserv photo, image bajaj finance Image- Google[/caption]

Rahul Bajaj, who was the non-executive chairman of Bajaj Finance for more than three decades, will step down on July 31. Bajaj Finance said in a notice to the stock market on Tuesday that it will be replaced by Sanjeev Bajaj.

Sanjeev is the vice president of the company. According to the company, 'Rahul Bajaj, the non-executive chairman of Bajaj Finance, has been holding this responsibility since 1987 and in the Bajaj Group for five decades.

Under the succession plan, he has decided to step down as chairman of the company board of directors from July 31, 2020. However, Rahul Bajaj will continue to work for the company as a non-executive, non-independent director of the company. The board of directors of the company has approved the appointment of Sanjeev Bajaj to the post of non-executive chairman with effect from August 1, 2020.