Creating Long-term Value For Shareholders, Employees Pradeep Bakshi, MD and CEO, Voltas firmly believes in a collaborative and empowering leadership style
By S Shanthi
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Pradeep Bakshi, MD and CEO, Voltas has always believed in focusing on innovation, diversification, and strategic partnerships to drive growth and create value for the company's stakeholders.
As a leader, he also firmly believes in a collaborative and empowering leadership style. "I encourage open communication, foster a culture of trust and transparency, and empower my team members to take ownership of their work. Throughout my tenure, I have learned the importance of adaptability and resilience," he says.
The magic mantra the MD and CEO of Voltas swears by is 'Keep your cool and stay grounded.'
Whether it was reclaiming the Air Conditioner industry leader position in 2012 or re-entering the white goods segment and quickly ramping up market share in Home Appliances, he has always stayed the course. "We are now working with the mantra to strengthen our leadership position across all businesses we operate in," he says.
Creating long-term value for shareholders and employees is his top priority. To achieve this, he and his team have implemented a holistic strategy that focuses on sustainable growth and profitability. "We invest in research and development to drive innovation and stay ahead of market trends in order to serve our customers better at all times. We also prioritize talent development and employee engagement, ensuring that our team members have the necessary skills and resources to excel in their roles," he says.
Maintaining agility and fostering innovation in challenging circumstances is crucial for any organization's success. To ensure that, Voltas fosters a culture of experimentation and learning. "We encourage our employees to think outside the box, challenge the status quo, and embrace new ideas," he says.
As a CEO, Bakshi has faced numerous challenges, but one that stands out is leading the company through the industry disruption during the Pandemic. In such a situation, it was crucial to address the challenges head-on, adapt quickly, and make tough decisions. "I thrived in this situation by staying focused on our long-term vision, fostering a culture of resilience and innovation, and by communicating transparently with our stakeholders. I have also tried to rally my team and align our efforts, to be able to navigate the challenge successfully and emerge stronger. To convert the headwinds of the pandemic to tailwinds for the business, I had the support and determination of the entire team," he says.
According to Bakshi, for business leaders in today's ever-expanding landscape, change continues to be the only constant.
"In the consumer durables industry especially, there is a huge need to drive innovation, productivity and operational efficiency across business units. This can only be possible if the culture of constant learning and upskilling trickles down from the top. For me, being a part of a global business environment, industry panels and interaction with leaders across sectors has proved to be very rewarding for upgrading myself with the latest in the industry," he says.
As a CEO, his primary concerns include staying ahead of the competition, navigating regulatory changes, and ensuring sustainable growth. "Hence, we are aiming to become one of India's top consumer durable brands across categories," he says.
FACTSHEET
- Year of joining the current organization: 2001
- Turnover of the organization: 9667 crores
- Number of Employees at Voltas: 9600+
