Asian Paints Limited announced the appointment of Mr. Leo Puri as an Additional and Independent Director and, subsequently, as the Chairman of the Board. His appointment as an Independent Director is for a term of five years, commencing September 7, 2026. He will assume the role of Chairman effective January 23, 2027, succeeding Mr. R. Seshasayee. The company confirmed that Mr. Puri meets all independence criteria and is not related to any existing directors or promoters.
Board Appointments and Leadership Change
Asian Paints Limited announced significant changes in its board leadership following a meeting held on Monday, September 7, 2026. Based on the recommendation of the Nomination and Remuneration Committee, the Board has unanimously approved the appointment of Mr. Leo Puri (DIN: 01764813) as an Additional and Independent Director. This appointment is for an initial term of five consecutive years, starting from September 7, 2026, and concluding on September 6, 2031. The appointment is subject to shareholder approval.
New Chairman Appointed
In a subsequent development, and in continuation of previous communications regarding board leadership, Asian Paints confirmed that Mr. Leo Puri will also be appointed as the Chairman of the Board. This transition will be effective from January 23, 2027. This appointment follows the upcoming conclusion of the term for the current Chairman, Mr. R. Seshasayee, on January 22, 2027. Mr. Puri will serve as Chairman until the conclusion of his term as an Independent Director, also pending shareholder approval.
Director Independence and Qualifications
The company has affirmed that Mr. Leo Puri meets the prescribed criteria for independence under both the Companies Act, 2013, and the Listing Regulations. He has not been debarred from holding a director position by any authority. Furthermore, he is not disqualified from holding office as a Director under Section 164 of the Companies Act, 2013. Mr. Puri is a seasoned industry leader with four decades of experience in the financial sector, holding significant positions in various prominent organizations.
Shareholder Approval Process
The company will seek shareholder approval for these appointments through a Postal Ballot. Further details regarding the process will be communicated in due course. A brief profile of Mr. Leo Puri has been enclosed as Annexure A to this disclosure.
Source: BSE
