Tata-owned Voltas, India’s leading air conditioning company, announced a leadership transition on Wednesday. Managing Director and CEO Pradeep Bakshi will step down in September after a successful tenure of over 20 years.
Bakshi, who decided not to seek reappointment after his current term ends in August, will hand over the reins to Mukundan Menon, currently Executive Director and head of the room air conditioners business.
Menon will assume the role of Managing Director Designate in April, ensuring a smooth transition.
The announcement coincided with Voltas’ strong third-quarter results for December 2024. The company reported an 18% year-on-year increase in consolidated total income, reaching Rs 3,164 crore, with a net profit of Rs 131 crore.
This marks a significant turnaround from the Rs 28 crore loss recorded in the same period last year.
Pradeep’s journey with Voltas began twelve years ago when he took charge of the company’s operations in the UPBG division, vowing to turn around the brand.
Under his leadership, Voltas rose to prominence, becoming the market leader in the Indian air conditioning sector.
Throughout his career, Bakshi has earned numerous accolades, including the prestigious “Appliances Man of the Year” award in 2013 and the President’s Award for Energy Conservation.
