Bajaj Electricals Limited has announced significant leadership changes, including the cessation of Mr. Shekhar Bajaj as Executive Chairman and Whole-time Director, effective December 31, 2026. The board also approved his continuation as Non-Executive Non-Independent Director and conferred the title of ‘Chairman Emeritus’. The company also reported its unaudited financial results for the second quarter and half year ended September 30, 2026, alongside new appointments and remuneration revisions for key executives.
Leadership Succession and Governance Evolution
Bajaj Electricals Limited has announced a series of strategic leadership transitions aimed at ensuring smooth succession planning and evolving the company’s governance model. As part of this evolution, Mr. Shekhar Bajaj will cease his executive role as Executive Chairman and Whole-time/Executive Director, effective December 31, 2026. He will continue to serve as a Non-Executive, Non-Independent Director from January 1, 2027, subject to shareholder approval. Additionally, he has been conferred the honorary title of ‘Chairman Emeritus’ for a term of five years.
Financial Results for Q2 FY27
The company also disclosed its unaudited financial results for the second quarter and half year ended September 30, 2026. These results were approved by the Board of Directors following a review by the Audit Committee. The announcement includes the standalone and consolidated financial results, along with limited review reports from the statutory auditors.
Key Executive Appointments and Remuneration
In line with leadership planning, the Board of Directors has approved several other key changes:
- Mr. Sanjay Sachdeva, Managing Director & Chief Executive Officer, will see a curtailment of his current tenure to March 31, 2027, with revisions to his remuneration. He is also slated for re-appointment for a further five-year term from April 1, 2027, to March 31, 2032, with revised remuneration subject to shareholder approval.
- Mrs. Pooja Bajaj, currently a ‘retiring’ Executive Director, will transition to a ‘non-retiring’ Executive Director role from January 1, 2027, pending shareholder approval. Her functions, duties, and remuneration will remain unchanged.
- Mr. Sudarshan Sampathkumar has been appointed as Non-Executive Independent Chairman of the Board, effective January 1, 2027, until the end of his term as Independent Director in May 2028.
Other Board Approvals
The Board also approved seeking shareholder approval for paying remuneration to Non-Executive Directors in excess of the limits prescribed under Section 197(1) of the Companies Act, 2013. Amendments to the Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information (UPSI) were also approved.
Furthermore, the Board has authorized specific Key Managerial Personnel for determining materiality of events and making disclosures to the Stock Exchange(s) under Regulation 30(5) of the SEBI Listing Regulations.
Source: BSE
