Orient Electric appoints Rajan Gupta as MD & CEO, Rakesh Khanna resigns

Orient Electric Ltd on Friday announced the appointment of Rajan Gupta as its Managing Director and CEO for a period of five years effective from 4 April,2023.

The company at its meeting held on Friday appointed Rajan Gupta as additional director and the managing director & chief executive officer of the company.

“Appointed Mr. Rajan Gupta as Additional Director and the Managing Director & Chief Executive Officer of the Company for a period of 05 years effective from April 04, 2023, on the recommendation of the Nomination and Remuneration Committee, subject to the approval of the shareholders of the Company,” said Orient Electrics in its regulatory filing.

The company also informed that Rakesh Khanna has resigned from the position as MD & CEO, effective from 3 April,2023.

“Took on record the resignation of Mr. Rakesh Khanna (DIN: 00266132) as Director and from the position of Managing Director & Chief Executive Officer of the Company, to be effective from the close of business hours on April 03, 2023.” the filing added.

Rajan Gupta joins OEL board as a full-time director and he will be based in New Delhi.

He was earlier associated with Hathway Cable and Datacom, where he was the MD and CEO, and Chairman of the Board, GTPL Hathway.

"We are deeply committed to making Orient Electric an industry leader in fans, lighting, appliances and switchgear as we strengthen our position to meet the changing demands of the market. Gupta's extensive experience in scaling up businesses, brand consolidation, and strong customer engagement aligns well with our growth ambitions," said OEL Chairman C K Birla.

He also thanked the outgoing MD & CEO Khanna for his leadership and his contribution in bringing Orient Electric to its current market leadership.

Before his last role at Hathway Cable and Datacom, Gupta also worked with companies like Tata Telecom, Hindustan Coca Cola and Asian Paints.

The company's scrip ended 0.037 per cent up at ₹270.55 on BSE.