New Delhi June 29: Consumer durables maker Bajaj Electricals on Wednesday announced the formation of a unified lighting business by combining its consumer lighting and professional lighting businesses as part of the firm’s reorganisation plan.
It has appointed Rajesh Naik as head of the lighting business and Ravindra Singh Negi as Chief Operating Officer (COO) of its consumer products business to strengthen the leadership of the company.
“Both executives will report to Anuj Poddar, executive director, Bajaj Electricals,” the company said.
Prior to this Negi, who will join in July, was president of the electrical consumer durables segment of Havells India.
Naik had joined Bajaj Electricals in December 2019 and in this period has led a turnaround of the illumination business. He has over two decades of experience in the sector.
“The reorganisation and strengthening of the company’s leadership is on the back of the ongoing and significant transformation journey,” said Bajaj Electricals.
Commenting over the development Anuj Poddar said over the past three years, the company has embarked upon a significant transformation journey with a clear agenda of driving growth and value creation for all stakeholders.
“As we look forward to our next phase of this transformation, we are committed to even more aggressive growth and to driving operational excellence across our businesses. The reorganisation and strengthening of our leadership are designed to enable this,” he said.
Over the last three years, the Shekhar Bajaj-led company has undertaken multiple initiatives, including the acquisition of further stakes in Nirlep Appliances, Starlite Lighting and the planned scheme of arrangement for a split of the entity into two independent publicly listed companies upon a demerger of its power infrastructure business.
Bajaj Electricals, part of business conglomerate Bajaj Group, had a turnover of Rs 4,813 crore in FY22. (PTI)
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