Bajaj Electricals Limited has informed the Exchange regarding Notice of Postal Ballot
BAJAJELEC · price
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Bajaj Electricals has issued a Postal Ballot Notice seeking shareholder approval for two resolutions. The first is the appointment of Mr. Sanjay Sachdeva (DIN 11017868) as a Director of the company. The second, a Special Resolution, is his appointment as Managing Director & CEO for a 3-year term from April 15, 2025 to April 14, 2028, along with approval of his remuneration package. Mr. Sachdeva, aged about 59, is an IIT Delhi and IIM Calcutta alumnus with over 33 years at Unilever, most recently serving as CEO & MD of Unilever Japan. His annual fixed pay is Rs. 5.17 crore, plus performance incentives up to Rs. 2.06 crore, profit-sharing commission of 0.75% of net profits, stock options worth at least Rs. 1.65 crore, a Rs. 2 crore retention bonus at term end, and a company car worth Rs. 60–65 lakh. Remote e-voting runs from May 20, 2025 (9 AM) to June 18, 2025 (5 PM), with results expected on or before June 20, 2025.
The appointment of a seasoned consumer goods leader from Unilever signals a strategic push to strengthen Bajaj Electricals' consumer-facing business. The substantial remuneration package, including a 0.75% profit commission and stock options, aligns the new MD & CEO's interests with shareholder value creation, though it will be watched carefully for any impact on profitability.