Bajaj Electricals: Sailing the winds of change
On July 22, 2024, Shekhar Bajaj, Chairman of Bajaj Electricals, addressed concerns following the abrupt resignation of Managing Director and CEO Anuj Poddar on July 17, which led to a 6 percent drop in the company’s stock. In a subsequent investor call, Bajaj reassured stakeholders that the company is guided by a strong strategy, not any single individual, and emphasized that change is a natural part of any evolving organization. Over a month later, in an interview with Forbes India, Shekha Bajaj discussed the company’s resilience and its plans for recovery after a period of sluggish growth. He highlighted that Bajaj Electricals, founded in 1938, is more than just a consumer product company and reaffirmed the company’s commitment to focusing on its core business while aiming to expand its global presence. Bajaj also acknowledged the need to improve the company’s global market share, currently at 2 to 3 percent, and emphasized that growth will not come at the expense of the company’s core values. Bajaj Electricals has built its resilience by remaining true to its core values of trust, focus, integrity, and quality. The company is now embracing a revitalizing transformation.
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