Bajaj After Rahul
During his convalescence at home in Pune due to prolonged illness, the late Rahul Bajaj made the decision that he could no longer effectively oversee the family’s business interests or continue his board roles at group companies.
By the following year, Rahul had stepped down as chairman of Bajaj Auto Ltd. and relinquished his board position at Bajaj Finance Ltd. Before his passing in February 2022, he had already mapped out the succession plan for the group.
Having delegated operational control of Bajaj Auto to his elder son Rajiv Bajaj long ago, Niraj Bajaj, Rahul’s cousin, assumed the role of chairman at the two-wheeler manufacturer later on. Rahul’s younger son Sanjiv, who had spearheaded the growth of the NBFC and insurance businesses, was appointed chairman of Bajaj Finance Ltd. and its parent company, Bajaj Finserv Ltd. However, the most significant change enacted post-Rahul’s passing was the elimination of the chairman position altogether.
Instead, the 1.46 lakh crore Bajaj Group now operates through consensus via a family council, which includes Rahul’s cousins Shekhar, Madhur, and Niraj, along with Niraj’s son Nirav, and Rajiv and Sanjiv.
Two years and four months following Rahul Bajaj’s demise, an analysis of the 98-year-old Bajaj Group shows improved business performance despite his absence.
“Rahul Bajaj was always against multitasking and emphasized focusing on our core strengths. We strive for continual improvement in our business operations,” remarked a family member.
Notably, Bajaj Auto and Bajaj Finance have been particularly successful under Rajiv Bajaj’s leadership. Bajaj Auto has aggressively entered the electric two-wheeler market, challenging leaders like Ola and TVS, and expanding its pro-biking unit with brands like KTM and Triumph. Meanwhile, Bajaj Finance has been recognized as India’s top listed NBFC, benefiting from robust financial services demand in India’s growing economy.
Discussing the family’s approach, Niraj Bajaj previously highlighted their commitment: “In our case, the family comes second. We owe our reputation and existence to thousands of small shareholders who trust the Bajaj name and have put their hard-earned savings in Bajaj shares.”
Despite challenges in sectors like appliances at Bajaj Electricals Ltd., where profitability was impacted in FY24, the overall outlook remains optimistic under the stewardship of designated family members.
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