Bajaj Finserv reappoints Sanjiv Bajaj as MD for 5 more years

Bajaj Finserv on Wednesday said its Board of Directors has reappointed Sanjiv Bajaj as the managing director (MD) of the company for a further period of 5 years.

Bajaj Finserv is a Core Investment Company (CIC) under RBI Regulations 2020 and the holding company for various financial services business under the Bajaj Group.

"...this is to inform you that based on the recommendation of the Nomination and Remuneration Committee of the company, the board of directors, at its meeting held today i.e., on 16 March 2022, has re-appointed Sanjiv Bajaj as the Managing Director of the company for a further period of 5 years w.e.f. 1 April 2022...," the company said in an exchange filing.

The reappointment will be subject to the approval of the shareholders of the company.

Bajaj has been reappointed as MD for a period of 5 years from April 1, 2022 to March 31, 2027, and will not be liable to retire by rotation, the filing said.

He has been MD of the company since 2008. He had been holding the position of chairman and managing director since 2020. His present term as an MD will end on March 31, 2022.

He is also on the board of several Bajaj Group companies as its chairman.

Shares of Bajaj Finserv on Wednesday ended 2.60 per cent higher at Rs 16,116.95 on the BSE.

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