Bajaj Electricals has announced the elevation of Anuj Poddar to the role of Managing Director and Chief Executive Officer. Poddar had joined the company in late 2018 as its Executive Director. Shekhar Bajaj shall continue as Executive Chairman of the company, a release by Bajaj Electricals said.
This announcement comes on the back of the ongoing and significant transformation journey and keeping in mind the company’s long‐term strategy, Bajaj Electricals said in a release.
Professionalization of management
Over the last three years, Bajaj Electricals has undertaken multiple initiatives including strengthening of the leadership, streamlining of its corporate structure, turnaround of its performance and balance sheet and the planned demerger of the EPC business. Further, the company achieved a key strategic milestone of becoming net-debt-free as on March 31, 2022 – a first for the company in over four decades. The separation of the Chairman and Managing Director positions is in continuation of the professionalization of the management of the company and marks the company’s commitment to strong corporate governance standards.
Transformation journey
Shekhar Bajaj, Chairman, Bajaj Electricals, said “Anuj Poddar has demonstrated exceptionally visionary leadership, executional ability and passion in driving this transformation journey and I am confident that in his elevated role he will continue to drive our company forward and add value to all stakeholders.”
Value creation
On his appointment, Anuj Poddar, MD & CEO, Bajaj Electricals, said, “I am thankful to the Chairman and our Board for entrusting me with this elevated responsibility. I am truly excited for what lies ahead of us at Bajaj Electricals – we have a clear vision and roadmap of building this future and together with our entire team we are committed to being a best-in-class organisation that delivers superior performance and value creation.”