Asian Paints has appointed veteran corporate executive Leo Puri as an Additional and Independent Director for a five-year term, paving the way for him to take over as chairman of the company early next year.

 

The appointment was unanimously approved by the company’s Board of Directors at its recent meeting. Asian Paints also announced that Puri will succeed R. Seshasayee as chairman of the Board from January 23, 2027.

 

Seshasayee, currently chairman of the Board, is set to complete his term as an Independent Director on January 22, 2027. He had been appointed chairman with effect from October 1, 2023. The company said Puri will serve as chairman from January 23, 2027, until the conclusion of his current term as an Independent Director, subject to shareholder approval of his appointment.

 

The appointment marks a planned leadership transition at the paint major as Seshasayee’s tenure draws to a close.

 

Puri is an industry leader and financial sector veteran with four decades of experience. He presently serves as the Advisory India Chair, Apax, a global private equity firm. He also holds Board positions as the Chairman and Independent Director at Fortis Healthcare Limited, Lead Independent Director at Dr. Reddy’s Laboratories Limited and Independent Director at Amadeus IT Group, based out of Madrid, Spain.

He previously served as the Chairman, South & Southeast Asia for JP Morgan Chase; Managing Director and Chief Executive Officer of UTI Asset Management Company Limited; Managing Director and General Partner at Warburg Pincus; and Senior Partner at McKinsey & Company.

He has also served on the boards of several prominent organisations. He currently chairs the Governing Council of the Institute for Sustainability, Employment and Growth, a not-for-profit policy body that works with State and Central governments on initiatives relating to renewable energy, smart cities and employment generation. He has previously served as the Chairman of the Association of Mutual Funds in India (AMFI) and as a member of various government and regulatory advisory committees.