Pune: Bajaj Electricals Limited announced the resignation of its Managing Director and Chief Executive, Anuj Poddar, from his position and as a member of the board of directors on Wednesday.

The board has accepted his resignation, with his last day at the company being September 30, 2024.

The chairman of Bajaj Electricals, Shekhar Bajaj, said, “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.”

During the transition period following Poddar's departure, Bajaj will assume his responsibilities.

Under Poddar’s leadership, the company consolidated its balance sheet, demerged the EPC business, and achieved net-debt-free status for the first time in March 2022.

The company also relaunched its flagship brand 'BAJAJ', entered a long-term licensing agreement with 'Morphy Richards', made significant investments to enhance its R&D capabilities, and drove digital transformation.

Poddar has played a significant industry role in various organizations such as the Consumer Electronics and Appliances Manufacturers Association, Electric
Lamp and Component Manufacturers’ Association of India, Indian Fan Manufacturers Association, The Advertising Standards Council of India, and the Confederation of Indian Industry.