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Mr. Shekhar Bajaj, the Chairman and Managing Director of Bajaj Electricals Limited (BEL), hands over his resignation from the post of non-executive director of Bajaj Auto Ltd.
The company mentioned at the time of regulatory filing the resignation shall be effective from 30th June 2022. The reason for resignation is believed to be due to health reasons.
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Mr. Shekhar Bajaj has a B.Sc. (Hons) degree in Mathematics from Pune University (1968), followed by an M.B.A. degree from New York University (1974). He has been the past President of ASSOCHAM, IMC, ELCOMA (Electric Lamp & Components Manufacturers Association), IFMA (Indian Fans Manufacturers Association), and other associations. He is on the board of Bajaj Auto Ltd. and a number of other companies.
He started his career with Bajaj Sevashram after graduation and joined Bajaj Electricals Ltd. as Chief Executive in 1980. In 1984, he took over as Managing Director of Bajaj Electricals Limited (1984) and became the Chairman & Managing Director in 1990.
On 14th June 2022, the company's stock opened at Rs. 3885 but traded down when the news of Shekhar Bajaj's resignation hit the market and thus closed in red at Rs. 3681.75, down by 5.14%.
-by Gautam
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