 "Madhur Bajaj")
Madhur Bajaj, the former vice-chairman of Bajaj Auto, passed away at a hospital in Mumbai on Friday. He was 73.
Bajaj had been admitted to Mumbai’s Breach Candy Hospital a few days ago due to health issues.
Bajaj, who was currently serving as a director of Bajaj Finserv and Bajaj Electricals, had stepped down from the post of vice-chairman of Bajaj Auto in January last year owing to ill health.
Bajaj had been the vice-chairman (both executive and non-executive) of Bajaj Auto for over two decades. At the time of stepping down, he had said: "I believe now is the time for me to pursue my other interests and commitments."
Born in 1952, he was an alumnus of Doon School, Dehradun. After obtaining his Bachelor of Commerce degree from Sydenham College, Mumbai, in 1973, he pursued Master of Business Administration at the International Institute of Management Development (IMD), Lausanne, Switzerland, in 1979.
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He was the first cousin of Rahul Bajaj, the former chairman of Bajaj Auto, and the key figure behind shaping the Bajaj group as a conglomerate. Rahul Bajaj passed away three years ago at the age of 83.
Madhur Bajaj’s daughter Neelima, who was then serving as senior manager, marketing services at Bajaj Auto, quit in 2013 to join a multinational firm. He has another daughter, Nimisha Bajaj.
In 2020, Rahul Bajaj had constituted a family council to look after business interests.
Madhur made significant contributions in the fields of automotive, electrical, and consumer durables, as well as financial services. He was a recipient of the 'Vikas Rattan' award from the International Friendship Society of India. He also served as the president of the Society of Indian Automobile Manufacturers and the Mahratta Chamber of Commerce, Industries, and Agriculture. Most recently, he also served as the chairman for western region at the Confederation of Indian Industry.
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