The paint major on Wednesday announced that its board approved the appointment of Deepak Satwalekar, independent director, as the chairman of the board and the company from Tuesday, 29th June 2021.
Deepak Satwalekar will continue as the chairman of the board and the company till the conclusion of his tenure as an independent director on the board up to 30 September 2023. Satwalekar will supersede Ashwin Dani as chairman.
Ashwin Dani shall continue to be on the board of the company as a non-executive/promoter director.
Meanwhile, the paint maker informed that Manish Choksi shall continue to be the non-executive vice chairman of the company.
Shares of Asian Paints were trading 0.5% lower at Rs 2,995.85 on BSE. Asian Paints is a leading paint company of India. The company along with its subsidiaries has operations in 15 countries across the world with 26 paint manufacturing facilities.
On a consolidated basis, the paint major’s net profit surged 81.13% to Rs 869.89 crore on 43.48% jump in revenue from operations to Rs 6,651.43 crore in Q4 FY21 over Q4 FY20.
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