Anuj Poddar To Exit Bajaj Electricals In Sept

Bajaj Electricals' Managing Director and CEO, Anuj Poddar, has decided to move on. He will be moving on to pursue an external opportunity. The Board has accepted his resignation while recognising and acknowledging Poddar’s stellar contributions in formulating the transformation and growth journey of the company over the past five and a half years. His last date with the company shall be 30 September 2024.

Poddar led the organisation through a tumultuous phase and has been the architect of its overhaul and turnaround. A visionary leader, he has been instrumental in rolling out multiple transformative initiatives across the organisation, streamlining the corporate structure, strengthening the leadership team, consolidating the balance sheet, demerging the EPC business and bringing in a consumer-first approach, while driving a long-term growth strategy.

Under his leadership, the company achieved several significant milestones, notably becoming net-debt-free in March’22 (a first for the company), relaunching its flagship brand ‘Bajaj’, establishing the ‘House of Brands’ architecture, expanding the portfolio with a new, premium brand (Nex), signing a long-term licensing agreement for the ‘Morphy Richards’ brand, reorganising the lighting solutions business, launching a slew of products to premiumise the portfolio, rolling out a new ERP system, and attracting strong talent to the organisation. During his tenure, the Company witnessed significant focus and investments in accelerating its R&D capabilities, expanding its go-to-market approach, driving digital transformation and fortifying its operational capabilities, all of which have laid the foundation for significant future growth. 

Poddar’s leadership and impact have transcended Bajaj Electricals. He has played a strong industry role, through his leadership and contribution across various industry bodies viz. CEAMA (Consumer Electronics and Appliances Manufacturers Association), ELCOMA (Electric Lamp and Component Manufacturers’ Association of India), IFMA (Indian Fan Manufacturers Association), ISA (Indian Society of Advertisers), ASCI (The Advertising Standards Council of India) and CII (Confederation of Indian Industry).

Commenting on his resignation, Shekhar Bajaj, Chairman – Bajaj Electricals shares, “Anuj joined us at a time when we were facing significant challenges, and he has demonstrated exceptional passion, leadership and strategic foresight in navigating our organisation into a strong position. He has embodied the values of the Bajaj Group and focused on doing what is right for the business and all our stakeholders. The Board and I have regretfully accepted his decision to pursue a professional opportunity outside the organisation. During the period of transition following his exit, as the Executive Chairman, I shall take over his responsibilities and along with our strong leadership team, we will continue to drive our future growth.

Poddar adds, “It has been a privilege to have been a part of Bajaj Electricals’ momentous journey over the past few years. I thank our Chairman, Mr. Shekhar Bajaj, for reposing his faith in me and his constant guidance and support. I shall always remain proud of and indebted to our entire team who have been an integral part of this journey and instrumental in the success we have achieved. I remain immensely confident of the strategic trajectory we are on and wish the Board and the Company all the very best for its continued success.”