Bajaj Electricals' Shekhar Bajaj to step back as executive chairman

Management change
Consumer Durables

Blacklitt Research28 October 20263 min read

Bajaj Electricals (NSE: BAJAJELEC) said in a filing on 28 Oct 2026 that Shekhar Bajaj will cease as Executive Chairman and Whole-time Director at the close of business on 31 Dec 2026, and will continue as a Non-Executive, Non-Independent Director and as Chairman Emeritus. The board also approved a reappointment for MD and CEO Sanjay Sachdeva.

Shekhar Bajaj's move from executive to advisory role

Shekhar Bajaj has tendered his resignation as Executive Chairman and Whole-time/Executive Director, effective from the close of business on 31 Dec 2026. The resignation is limited to those executive positions and does not end his directorship. From 1 Jan 2027 the board has approved his continuation as a Non-Executive, Non-Independent Director, subject to a Special Resolution through postal ballot.

He says the reason is the succession and leadership transition described in the filing. As Chairman Emeritus, for five years from 1 Jan 2027 to 31 Dec 2031, he will be a permanent invitee to board meetings. The filing says the role is advisory and mentoring and carries no executive, managerial, supervisory or decision-making authority, and that he will have no reporting relationship with management. He is the father-in-law of Executive Director Pooja Bajaj.

Sanjay Sachdeva's tenure and Pooja Bajaj's status

The board approved curtailing Sanjay Sachdeva's current tenure as Managing Director & CEO so that it ends on 31 Mar 2027, with certain revisions to his current remuneration. It also approved his reappointment for five years, from 1 Apr 2027 to 31 Mar 2032, with revised remuneration from 1 Apr 2027, subject to shareholder and other approvals. The filing says he is not debarred from being a director and is not disqualified under Section 164 of the Companies Act, 2013.

Separately, Pooja Bajaj's position moves from retiring to non-retiring Executive Director from 1 Jan 2027, with no change to her functions, duties or remuneration. Sudarshan Sampathkumar, an Independent Director, was approved as Non-Executive Chairman of the Board from 1 Jan 2027 until his current term ends on 22 May 2028.

What the changes mean for Bajaj Electricals' shareholders

The changes alter who leads the board and how the top executive roles are set for the next five years. Several items need member approval by Special Resolution through postal ballot, including Shekhar Bajaj's continuation, his Chairman Emeritus payments and the Articles changes that create the Chairman Emeritus post.

The filing does not say who will succeed Shekhar Bajaj as Executive Chairman, what remuneration Sanjay Sachdeva's revised terms carry, what payments are proposed for Shekhar Bajaj as Chairman Emeritus, or why Sanjay Sachdeva's current tenure is being curtailed. The date of the postal ballot is also not stated. The next dated step is the cessation on 31 Dec 2026.

At a glance

Item	Detail
Shekhar Bajaj cessation as Executive Chairman	Close of business, 31 Dec 2026
Continuation as Non-Executive Director	From 1 Jan 2027, subject to Special Resolution
Chairman Emeritus term	1 Jan 2027 to 31 Dec 2031
Sanjay Sachdeva reappointment	1 Apr 2027 to 31 Mar 2032 as MD & CEO
Sudarshan Sampathkumar as Non-Executive Chairman	From 1 Jan 2027 to 22 May 2028

Reference: Original filing (PDF)

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