ɪn ˈeɪpɹəl tˈuː θˈaʊzənd twˈɛnti wˈʌn, bˈædʒædʒ stˈɛpt dˌaʊn æz nˈɑːnɛɡzˈɛkjuːtˌɪv tʃˈɛɹmən ʌv bˈædʒædʒ ˈɔːɾoʊ, sˈiːdɪŋ ðə pəzˈɪʃən tə hɪz kˈʌzən, nˈɜːɹædʒ bˈædʒædʒ, ænd ɹᵻmˈeɪnd wɪððə kˈʌmpəni æz tʃˈɛɹmən ɪmˈɛɹɪɾəs.
In April 2021, Bajaj stepped down as non-executive chairman of Bajaj Auto, ceding the position to his cousin, Niraj Bajaj, and remained with the company as chairman emeritus.