Voltas Begins New Era with Mukundan Menon Replacing Pradeep Bakshi

Tata-owned Voltas Ltd said its managing director and CEO, Pradeep Bakshi, will quit at the end of his current term in August.

The present executive director and head of room air conditioners business, Mukundan Menon, will take over from Bakshi. Menon is likely to join as managing director designate in April and would assume the mantle of managing director in September. Bakshi has spent more than 20 years with Voltas.

In a stock market filing, Voltas said that Bakshi had decided not to seek reappointment as MD and CEO after his current term ends in August, a decision that was approved by the company's board.

Under Pradeep Bakshi, Voltas emerged as the leader in the Indian AC market. Noel Tata, Chairman of Voltas, hailed Bakshi for his crucial role in positioning the company as the undisputed leader in India's room air conditioner sector.

Voltas also announced its third-quarter results for the period ending December 2024, with consolidated total income increasing by 18% year-on-year to Rs 3164 crore. The company reported a net profit of Rs 131 crore, compared to a net loss of Rs 28 crore during the same quarter last year.