Shares of Bajaj Electricals Ltd. dropped by 6% after touching a day’s high of Rs 1049.95 on 18 July, after the company announced the resignation of its Managing Director and CEO, Anuj Poddar, who is leaving to pursue an external opportunity.

The company’s board accepted MD and CEO Anuj Poddar’s resignation. Poddar’s last date with the company will be 30 September 2024. The board acknowledged Poddar’s contributions over the past five and a half years.

Shekhar Bajaj, Chairman of Bajaj Electricals, will assume Poddar’s responsibilities as Executive Chairman during the transition. The company informed the stock exchanges about these changes on 17 July.

Poddar was appointed as Executive Director of the firm in November 2018. He had served as a non-executive, independent director on the board since May 2016. 

Before joining Bajaj Electricals, Poddar was part of the leadership team at Viacom 18 Media for 13 years. At Viacom 18 Media, he played a key role in the formation of the joint venture and led its entry into mass entertainment with Colors.

Poddar’s leadership was instrumental in shaping the growth vision and strategy for Viacom 18 Media in India.

Before Viacom 18, Poddar worked for nearly a decade at Arthur Andersen and KPMG.

At 3:11 PM, the shares of Bajaj Electricals were trading 4.40% lower at Rs 1010.40 on BSE.

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