M Saraswathy Moneycontrol News
Consumer durables firm Bajaj Electricals has announced the appointment of Anuj Poddar as the Executive Director of the organisation. Associated with Bajaj Electricals board since May 2016 as a non-executive independent director, Poddar will take over the mantle for the day-to-day functioning of the organisation after Managing Director Anant Bajaj’s sudden death in August left the top post empty.
Bajaj Electricals, which is among the top five Indian players in the electrical goods segment, faced a leadership void after Anant Bajaj's untimely demise due to a cardiac arrest.
Poddar who will be the executive director at the company will be responsible for managing all the business verticals and its operations. He will report to Shekhar Bajaj, Chairman and Managing Director. He takes up this post with immediate effect.
Apart from Poddar, Munish Khetrapal and late Anant Bajaj's spouse Pooja Bajaj have been appointed as additional directors.
Who is Anuj Poddar?
A rank-holding chartered accountant, Poddar completed his Bachelor of Commerce degree from Narsee Monjee College of Commerce and Economics.
Prior to this, 43-year-old Poddar was executive vice-president with Viacom18 for 13 years. One of the founding team members, he held various senior leadership roles in the media giant.
Poddar has had over a decade of professional experience in strategy consulting, mergers & acquisitions advisory and assurance with Arthur Andersen and KPMG, besides running his own entrepreneurial ventures.
A passionate supporter of leadership development initiatives, Poddar is also fellow of the Inaugural Class of Aspen lnstitute's India Leadership Initiative and a member of Aspen Global Leadership Network.
How will Poddar help Bajaj Electricals?
Poddar, who has earlier served as the chairman of Bajaj Electricals’ audit committee, has been instrumental in setting up new ventures for his previous companies.
Bajaj Electricals which has moved from being a mere lighting company into several home appliance segments will be benefited by Poddar’s experience, enabling them to build a new host of products and services.
The company which has recently acquired kitchen appliance firm Nirlep could also see Poddar’s experience coming handy on how to promote and distribute this new portfolio of products.
Late Anant Bajaj wanted the company to take the lead in terms of product innovation. As Bajaj Electricals moves to the next phase of growth with products themed around the Internet of Things (IoT)-technology, it will have the able guidance of Poddar leading the team to this vision.
In its Q2 earnings reported on November 1, Bajaj Electricals posted a 79.5 percent year-on-year (YoY) rise in its September quarter net profit at Rs 34.08 crore on a 70 percent YoY increase in gross sales.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
