Bajaj takes a bow

Did you at any point of time think of giving the reigns to anybody else?

Yes, I used to think about it quite often. For the last 6-8 years, this has been on my mind every day.

Who were the other people in the reckoning?

I would not name them. But one could have looked for the best people available.

But what about others in your own Bajaj family like your brothers?

Today, they are no match. They are all excellent people. In fact, they are probably better human beings than I am. But to run Bajaj Auto, even in the extended family, there is nobody who can match Rajiv or Sanjiv. On that, I have no doubt.

But was that not one of the reasons for some of the problems that you have had of late within the family vis-a-vis Shishir Bajaj?

That was only part of the reason. It was because of his son Kushagra that Shishir had this problem. Shishir never wanted to manage Bajaj Auto. Shishir never wanted to separate, as far as I know. It was Kushagra who made him do that and Kushagra is a competent and dynamic young person. He definitely has the right to think that he can manage Bajaj Auto better than Rajiv can. But management will go on the basis of merit.

But did Madhur Bajaj not want to manage Bajaj Auto?

Of course, he wanted to manage Bajaj Auto. Why should he not want to manage? Having said that — while only he can answer that question and not me — he would not agree 100 per cent with my appraisal of him, but perhaps he realises that Rajiv is a better person to manage than him. Madhur has qualities in other fields.

But is the chairman the right person to assess all these or is it the board?

The chairman and CEO is the right person assisted by the board. One can take assistance from a professional, if required.

But in this case, who finally took the decision that Rajiv and Sanjiv will succeed you?

Finally, the board took the decision. But according to me — and this is where to be frank becomes a problem, it can easily be misunderstood — such decisions in most cases are decided by an individual. When the CEO happens to be the owner, it is difficult to object. Who will appraise the chairman or the board? Who appraises the Cabinet or a Prime Minister? The public will at election time.

But the point is, and this is where I can be misunderstood, I decided that he (Rajiv) was the best person to manage Bajaj Auto today. I have talked to dozens of people about this: vendors, dealers and consultants, though I never formally appointed a consultant for this. And who are on my board: people like Jamshyd Godrej.

Is he not your friend?

He is a friend, but not a chamcha. He will not do anything that is not in the interest of the company. Tarun Das, another board member; he will not listen to anything wrong. Naresh Chandra, former cabinet secretary. SH Khan, former chairman of IDBI. Mrs Suman Kirloskar. What I am saying is that there is no chamcha here.

But aren’t they all there at your pleasure?

Whoever will be on the board will be at the pleasure of shareholders. And I am a major shareholder.