Rahul Bajaj resigns as Bajaj Finserv Chairman

New Delhi: Bajaj Finserv Wednesday said its Chairman and Non-Executive Director Rahul Bajaj has resigned and will take over as the Chairman Emeritus from May. Bajaj, 80, vide a letter dated February 15, 2019, has tendered his resignation which will be effective from the conclusion of the board meeting scheduled for May 16, 2019, the company said in a regulatory filing. His appointment as Chairman Emeritus will be effective from May 16, 2019, it added. "The board of directors has appointed Nanoo Pamnani as Independent Non-Executive Chairman of the company in place of Rahul Bajaj, with effect from May 17, 2019," it said. The company has also approved reappointment of independent directors D J Balaji Rao, Nanoo Pamnani and Gita Piramal for a second term of 5 years.