Bajaj Electricals has announced the formation of a unified lighting business, and the appointment of key executives.
In a release, Bajaj Electricals said that it has appointed Ravindra Singh Negi as Chief Operating Officer (COO) of its Consumer Products Business and Rajesh Naik as Head of the Lighting Business. Both executives will report to Anuj Poddar, Executive Director, Bajaj Electricals, the release noted.
Negi will join Bajaj Electricals in July 2022 from Havells India, where he was President of the Electrical Consumer Durables segment. Prior to that, he spent nearly two decades in Bharti Airtel Limited in various roles, with his final role being CEO of the Delhi and NCR telecom circle.
Unified business
Bajaj Electricals has also unified its lighting business segment by combining its consumer lighting business and its professional lighting business, which will be led by Rajesh Naik. Naik joined Bajaj Electricals in December 2019 and in this period has led a turnaround of the illumination business taking it to the leadership position in the industry. Naik has over two decades of experience in the sector.
Reorganization
Over the last three years, Bajaj Electricals has undertaken multiple initiatives including the acquisition of further stakes in Nirlep Appliances Pvt Ltd, Starlite Lighting Ltd, 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). The planned split is likely to come into effect later this fiscal.
