Bajaj Auto 's Board of Directors, at its meeting held on 06 May 2026, approved the re-designation and appointment of Mr. Rakesh Sharma (DIN: 08262670) as Joint Managing Director of the company. Mr. Sharma, who presently serves as Executive Director, will assume the new role with effect from 01 June 2026, subject to the approval of the company's shareholders. The decision was taken based on the recommendation of the Nomination and Remuneration Committee. The Board Meeting commenced at 02:00 p.m. and concluded at 05:30 p.m.

Appointment Details

The key parameters of Mr. Rakesh Sharma's appointment as Joint Managing Director are outlined below:

Profile of Mr. Rakesh Sharma

Mr. Rakesh Sharma graduated from the Indian Institute of Management, Ahmedabad in 1986 and brings over 40 years of professional experience to his new role. He joined Bajaj Auto in October 2007 as President of International Business and has since held several key leadership positions over his 19 years with the company, including leading the International Business for over 10 years.

In July 2018, he was elevated to the role of Chief Commercial Officer, taking on responsibility for leading the front-end Business Units. He was subsequently appointed as Executive Director in January 2019. His career trajectory at Bajaj Auto reflects a consistent progression through roles of increasing strategic importance.

Expanded Responsibilities as Joint Managing Director

In his capacity as Joint Managing Director, Mr. Sharma will continue to oversee business responsibilities while also taking on expanded functional oversight. The following functions will now report directly to him:

• Digital & IT function – responsible for driving the company's digital transformation journey
• Legal function – overseeing the company's legal affairs

Mr. Rakesh Sharma will continue to report to Managing Director Mr. Rajiv Bajaj in his new role.

Regulatory Compliance

The appointment has been disclosed pursuant to Regulation 30 read with para A, part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The details required under Regulation 30 of the Listing Regulations have been disclosed in accordance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30 January 2026. The company has also confirmed, in accordance with BSE Circular No. LIST/COMP/14/2018-19 and NSE Circular No. NSE/CML/2018/24 dated 20 June 2018, that Mr. Rakesh Sharma has not been debarred from holding the office of Director by any order of SEBI or any other such authority. The disclosure of relationships between directors has been stated as NIL.

Bajaj Auto has addressed concerns around the global shortage of rare earth magnets, with a company executive stating that the issue is no longer a matter of concern for the automaker. The executive credited the company's adoption of light rare earth magnets as the key factor behind resolving the supply challenge.

Shift to Light Rare Earth Magnets

The company's move to light rare earth magnets marks a notable development in its supply chain strategy. By transitioning to this alternative, Bajaj Auto has been able to mitigate the risks associated with the scarcity of conventional rare earth magnets, which have been a point of concern across the global automotive and electric vehicle industry.

Company's Position on Supply Chain Resilience

The executive's remarks signal that Bajaj Auto has taken proactive steps to insulate its operations from potential disruptions in the rare earth materials supply chain. The use of light rare earth magnets is positioned as a practical and effective measure that the company has implemented to ensure continuity in its manufacturing processes.