Seshasayee will succeed Deepak Satwalekar whose term is scheduled to end on September 30
Asian Paints has appointed R Seshasayee as the Chairman of the board of directors of the company with effect from October 1, 2023, and he will continue in this position until the end of his tenure on January 22, 2027.
Seshasayee will succeed the current Chairman, Deepak Satwalekar, whose term is scheduled to end on September 30.
"... Considering the impending retirement of Mr. Deepak Satwalekar as an Independent Director of the Company, the Board of Directors at their meeting held today i.e. Tuesday, 25 th July, 2023, have appointed Mr. R. Seshasayee, Independent Director, as the Chairman of the Board and the Company with effect from 1 st October, 2023 upto the conclusion of his term of appointment on 22nd January, 2027.," Asian Paints said in a regulatory filing on July 25.
Seshasayee was the Managing Director of Ashok Leyland Limited from 1998 to 2011, the Executive Vice Chairman from 2011 to 2013 and the Non-Executive Vice Chairman from 2013 to 2016. He was also the Non-Executive Chairman of IndusInd Bank from 2007 to 2019.
He has served as an Independent Director on the Boards of various companies, including ICICI Bank and Infosys Ltd (Chairman from 2015 to 2017). He was the President of Society of Indian Automobile Manufacturers during 2001- 2003 and President of Confederation of Indian Industry during the year 2006 - 2007.
Seshasayee was appointed as an Independent Director of Asian Paints Limited on 23rd January, 2017. He is the Chairman of the Investment Committee and the member of the Audit Committee and the Nomination & Remuneration Committee of the Board of Directors of Asian Paints Limited.
He also serves on the Boards of other reputed companies.
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