Bajaj Auto Limited at its board meeting held on 13 March 2019 announced that Shri D S Mehta, the long-time Non-executive Independent Director of the Company, whose five year term expires on 31 March 2019, has expressed his desire to not continue for a second term due to his age and other activities and pre-occupations. Shri P Murari, the long-time Non-executive Independent Director of the Company, whose five year term expires on 31 March 2019, has expressed his desire to not continue for a second term due to certain commitments, priorities and health reasons. In view of the vacancy arising in the position of an Independent Director due to non-continuance of Shri D S Mehta and on the recommendation of the Nomination and Remuneration Committee, the Board of Directors has approved the appointment of Smt.

Lila Poonawalla and Shri Pradip Shah, as an Additional Directors and as an Independent Directors for a period of 5 years effective from 1 April 2019, subject to the approval of the Shareholders of the Company at the upcoming Annual General Meeting. Shri Kevin D'sa, President (Finance) & CFO of the Company for many years & aged 65 would be relinquishing the position of CFO with effect from the close of business hours of 17 May 2019 and will therefore cease to be a KMP of the Company from that date. On the recommendation of the Nomination and Remuneration Committee and due to the vacancy in the position CFO, the Board of Directors has approved the appointment of Shri Soumen Ray, Joint President (Finance) of the Company, as the CFO and KMP of the Company, with effect from 18 May 2019.

Lila Poonawalla is the former Chairperson and Managing Director of Tetra Pak India Limited and Alfa Laval India Limited. She is serving on the boards of many leading companies, including Bajaj Alliance Life Insurance, Bajaj Alliance General Insurance, Bajaj Housing Finance Ltd, Volvo Eicher commercial Vehicles etc. In her long career, she has held many key positions and handled a range of senior assignments both in India and abroad, in reputed institutions and bodies.

Pradip Shah was the founder Managing Director of CRISIL. He assisted in the formation of Housing Development Finance Corporation (HDFC) and also provided technical assistance and training to Rating Agency Malaysia Berhad and MAALOT. He has also served as a consultant to USAID, World Bank and the Asian Development Bank.

He holds many key positions both in India and abroad. He is serving as a Chairman of Kansai Nerolac Paints, Sonata Software and Grindwell Norton. His major directorships include Pfizer, BASF (India), Godrej & Boyce and Tata Investment Corporation.