Rahul Bajaj to step down as Bajaj Auto MD

New Delhi: The chairman and managing director, Rahul Bajaj on Friday said that he would like to step down as managing director of the company and make way for his sons to take hands-on control. He will, however, continue as the chairman.

"I am stepping down from March 31," Bajaj told reporters on the sidelines of a business conference held in the capital. He said his elder son, Rajiv Bajaj, who is joint managing director of Bajaj Auto, will take over as managing director from April 1 and will be handling the production, marketing, supply chain, manufacturing and production engineering at the company.

He also said his other son, Sanjiv Bajaj, who is currently an executive director (finance) at Bajaj Auto, will manage the company's international marketing, costing, legal services, and treasury operations among other responsibilities.

Rajiv Bajaj has been working with the company since 1990 and was appointed joint managing director in March 2003.

The Bajaj family currently owns 51 per cent of Bajaj Auto.