Bajaj Auto’s motorcycle unit head, K Srinivas is leaving the company after a 14-year stint with the company. He is moving to a non-automotive company and his position will be taken by Eric Vas, who was the head of Bajaj Auto Finance.
People in the company have citedhealth reasons as one of the factors behind this move but it might also be because of losing market share which currently stands at 20 per cent in the Indian two-wheeler business. The Pune-based manufacturer now stands at number 3 spot, with Hero MotoCorp and Honda Motorcycle and Scooter India taking the number 1 and 2 spotsrespectively.Bajaj Auto posted its lowest two-wheeler market share of 14.2 per cent in a decade in FY14 with sales of 2.1 million units.
The replacement for Vas at Bajaj Auto Finance is still unclear, but people close to the company say, the VP and business head of Bajaj Auto Finance V Karunakaran seems like a potential candidate to take over from Vas.
