Bajaj Electricals Limited has announced the resignation of its Managing Director and CEO, Anuj Poddar, who will be leaving the company to pursue an external opportunity. The Board has accepted his resignation, acknowledging Anuj’s significant contributions to the company's transformation and growth over the past five and a half years. Anuj Poddar's last day with Bajaj Electricals will be September 30, 2024.

Anuj Poddar's Transformative Leadership:
Anuj Poddar joined Bajaj Electricals at a time when the company was facing considerable challenges. Through his visionary leadership, he spearheaded numerous transformative initiatives that not only streamlined the corporate structure but also positioned the company for long-term growth. His strategic foresight led to the consolidation of the balance sheet, the demerging of the EPC business, and the adoption of a consumer-first approach.

Under his guidance, Bajaj Electricals achieved several notable milestones. The company became net-debt-free in March 2022 for the first time in its history. Anuj was also instrumental in relaunching the flagship brand 'BAJAJ', establishing the 'House of Brands' architecture, and expanding the product portfolio with the introduction of the premium brand Nex. Additionally, he secured a long-term licensing agreement for the 'Morphy Richards' brand and reorganized the Lighting Solutions business. His efforts in rolling out a new ERP system and attracting top talent have fortified the company's operational capabilities.

Industry Influence and Contributions:
Anuj Poddar's impact extended beyond Bajaj Electricals. He played a significant role in various industry bodies, including CEAMA, ELCOMA, IFMA, ISA, ASCI, and CII. His leadership and contributions have been widely recognized, underscoring his influence in the broader industry landscape.

Transition and Future Leadership:
Commenting on Anuj Poddar's resignation, Shekhar Bajaj, Chairman of Bajaj Electricals, praised Anuj's exceptional passion, leadership, and strategic foresight. He emphasized that Anuj joined the company during a challenging period and successfully navigated it to a strong position. Shekhar Bajaj will assume Anuj's responsibilities during the transition period, working with the strong leadership team to continue driving future growth.

Anuj Poddar expressed his gratitude towards the company and its Chairman, Shekhar Bajaj, for their unwavering support and guidance. He acknowledged the integral role of the entire team in achieving the company's success and expressed confidence in the company's strategic trajectory. Anuj wished the Board and the company continued success in the future.

A Legacy of Achievements:

• During his tenure, Anuj Poddar led Bajaj Electricals through significant advancements, including:

• Becoming net-debt-free in March 2022.

• Relaunching the flagship brand 'BAJAJ' and establishing the 'House of Brands' architecture.

• Expanding the product portfolio with the premium brand Nex.

• Signing a long-term licensing agreement for the 'Morphy Richards' brand.

• Reorganizing the Lighting Solutions business and launching new premium products.

• Implementing a new ERP system to enhance operational efficiency.

• Attracting top talent to strengthen the company's capabilities.

Additionally, Anuj focused on accelerating R&D capabilities, expanding the go-to-market approach, driving digital transformation, and fortifying operational capabilities, laying a solid foundation for future growth.

Future Outlook:
As Bajaj Electricals transitions to new leadership, the company remains committed to its growth strategy and operational excellence. The Board and the leadership team, under the guidance of Shekhar Bajaj, will continue to build on the strong foundation laid by Anuj Poddar, ensuring the company's continued success in the dynamic market landscape.

In conclusion, Anuj Poddar's resignation marks the end of a transformative chapter for Bajaj Electricals. His visionary leadership and strategic initiatives have set the company on a path of sustained growth and innovation. As the company moves forward, it will continue to uphold the values and strategic direction established under Anuj's leadership, driving towards a prosperous future.

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