Thursday, October 6, 2022

Bajaj Electricals elevates Poddar as MD, CEO

Consumer durable products maker Bajaj Electricals on Tuesday elevated its Executive Director Anuj Poddar to the role of managing director and chief executive officer.
The company has also separated the post of chairman and managing director and its patron Shekhar Bajaj will continue as the executive chairman of the company, Bajaj Electricals said in a statement.
“The separation of the Chairman and Managing Director positions is in continuation of the professionalisation of the management of the company and marks the company’s commitment to strong corporate governance standards,” Bajaj Electricals said.
This announcement comes on the back of the ongoing transformation journey and keeping in mind the company’s long-term strategy, it added.
“Over the last three years, Bajaj Electricals has undertaken multiple initiatives, including strengthening of the leadership, streamlining of its corporate structure, the turnaround of its performance and balance sheet and the planned demerger of the EPC business,” it said.
Bajaj Electricals Chairman Shekhar Bajaj said over the last few years a significant transformation journey has been embarked at Bajaj Electricals – involving many changes on the business as well as the organisational front.
“In continuation of that, I believe this will provide further impetus to the achievement of our strategic goals and demonstrates our commitment to strong corporate governance,” he said.