Mr. Shekhar Bajaj is the Chairman and Managing Director of Bajaj Electricals Limited (BEL). He has been the past President of ASSOCHAM, IMC, ELCOMA (Electric Lamp & Components Manufacturers Association), IFMA (Indian Fans Manufacturers Association) and other associations. He is on the board of Bajaj Auto Ltd. and a few other companies. Born into a family whose brand image bespeaks trust and transparency, brought up in the Gandhian ideals of his grandfather Shri. Jamnalal Bajaj, he is a unique embodiment of time-tested traditions, visionary zeal and humane concern. A B.Sc. (Hons) degree in Mathematics from Pune University (1968), followed by an M.B.A. degree from New York University (1974), equipped him with the formal training required to complement his homespun talents. Starting off in Bajaj Sevashram after graduation, he learnt the nitty-gritty of business by working his way up, gaining invaluable insights into the real market and joined Bajaj Electricals Ltd. as Chief Executive in 1980.
Thereafter in 1984, he took over as Managing Director of Bajaj Electricals Limited (1984) and became the Chairman & Managing Director in 1990. He built on the company’s inherent strengths and radically turned around its fortunes. Under his watchful eyes, the company restructured its overall operations, consolidating its formidable retail network to provide the country’s burgeoning middle class a better quality.
Over the years, BEL came to be associated with world-class products that offer value for money. Mr. Bajaj’s growth-oriented vision and policies were always rooted in sound, traditional pragmatism. Shunning complacency, BEL focused on continuous upgradation of technology and strategic tie-ups that enabled it to remain a resilient player in an intensely competitive market environment. It battled threats from the unorganized sector and recorded a steady rise in assets, sales and profits, inspiring trust among investors. Following a phase of consolidation measures, BEL began to focus on rapid growth. Anticipating future trends, Mr. Bajaj initiated the company’s entry into the High Mast and then Transmission Line Tower business, a move that has been remarkably successful. And so have been the tie-up with international companies like Morphy Richards of UK for Appliances, Disney and Midea for Fans, Securiton of Switzerland for Fire Alarms & Security Systems and Delta Controls of Canada for Building Management Systems & HVAC.
Mr. Bajaj was the driving force for the implementation of ToC (Theory of Constraints) in Bajaj Electricals which achieved success soon after it was implemented across the business. Elimination of sales targets was another initiative led by Shekhar Bajaj, which caused a shift from primary to secondary sales and resulted in a stronger distribution network as well as a solid backend distribution support. In April 2016, he rolled out the RREP (Range, Reach Expansion Programme) distribution plan with an objective to integrate multi-electrical products dealers, eliminate wholesalers, and set up centralized warehouses in the company’s supply channel. This massive implementation helped Bajaj Electricals reach out to far fledge places with over 160,000 retail counters, covering almost 450 districts across country, which now is getting serviced every week. Implementation of ToC and RREP has not only resulted in creating the best distribution setup in the industry but also helped gain huge traction with the investor community resulting in over 100% gain in our stock price within 1 year.
Mr. Bajaj continues to nurture, develop and encourage small-scale industries, marketing their products under the Bajaj brand umbrella. BEL consistently provides financial support and technical know-how to them. Competence and commitment have always been the keynotes of Mr. Bajaj’s credo. Add to this, the rare qualities of compassion and concern, and you begin to understand why he is the other face of corporate India. In his unpretentious and unassuming manner, he has successfully bridged the gap between principles and profitability, philanthropy and professionalism. Significantly, he has always believed that people are the ultimate source of strength in any organization. He upholds meritocracy, looking upon his employees as an extension of his family and winning in the process the unswerving loyalty of his team.
His own close-knit family – wife Kiran, son Anant Bajaj, daughter-in-law Pooja and daughter Geetika are the bulwark of his strength. Mrs. Kiran Bajaj is an achiever in her own right, and a perfect foil to his personality. His son Anant Bajaj was elevated to the position of Joint Managing Director on 1st April 2012, ensuring continuity and succession. Anant Bajaj was the driving force for ensuring implementation of TOC and RREP model in the organization. A die-hard travel enthusiast, Mr. Bajaj is as passionate about traveling as he is about his work. A vegetarian, a non-smoker and a teetotaler, he shies away from the trappings of glamour surrounding the corporate czars of today and prefers to be a globetrotter rather than a party hopper. Reading and meeting people are among his other interests.
Mr. Bajaj has personally led various Corporate Social Responsibility (CSR) initiatives taken by the organization. He strongly believes, Corporate Social Responsibility encompasses not only what we do with your profits, but also how we make them. It goes beyond philanthropy and compliance and addresses how we manage our economic, social, and environmental impacts, as well as our relationships with diverse stakeholders. He has rolled out many such initiatives for internal as well as external stake holders, biggest being the Anti-Tobacco drive. He believes that we all stand committed to encourage all its stakeholders to lead a healthy and addiction free life with a focus on spreading the message on tobacco cessation and awareness, amongst all. Mr. Shekhar Bajaj has personally led the initiative in having a contact programme with Employees to give up the habit of consuming Tobacco in any form and have achieved 100% success.
Mr. Bajaj’s wife Mrs. Kiran Bajaj is a passionate environmentalist and is the President of “Paryavaran Mitra” an NGO which was started in 2004. Its main objective is to prevent various types of pollution (sound, air, land and water) so that we offer a better world to live in to our present and future generations. “Paryavaran Mitra” takes up several country-wide environmental activities like Tree Plantation, developing Green Belts, Mini Forests, Horticulture & Kitchen Gardens, Encouraging Organic Farming, Water Conservation etc.