Madhur Bajaj Daughter Quits Group For Greener Pastures

Even as the ambitions of fourth generation Bajaj family members is taking the Rs 6,000 crore Bajaj group towards a possible split, one of the family members from the same generation has quit the group.

Neelima Bajaj, the elder daughter of Bajaj Auto vice-chairman Madhur Bajaj, who was a senior manager (marketing services) at Bajaj Auto, has quit the company.

Neelima was the only fourth generation member, apart from chairman Rahul Bajaj's sons, Rahul and Sanjiv, to have been playing an active part in the company.

Company sources said Neelima quit Bajaj Auto "earlier this year" to join a multinational firm to gain herself some international "exposure" from the experience. She is said to be "a professionally qualified woman in her own right".

 

Neelima, however, was not playing as significant a role in Bajaj Auto in comparison with Rajiv or Sanjiv, who were elevated to the positions of president and wholetime director and vice president (finance), respectively.

Chairman Rahul Bajaj has of late assumed the role of a guide and mentor to the current management and his sons, having relinquished Bajaj Auto's day-to-day management in their favour.

The revelation of Madhur Bajaj's daughter quitting comes at a time when the greater Bajaj family is headed for a split, with Shishir Bajaj wanting to move separate ways.

Shishir has another son in Apoorva but he is yet to play any major role in his companies -- Bajaj Sevashram, Bajaj Hindustan and Deccan Ayurvedashram.

In the Bajaj group, the 26 companies are divided in terms of responsibility among the five cousins -- Rahul, Shishir, Shekhar, Madhur and Niraj -- but the shareholding in each of them is divided almost equally.