Board Meeting and Appointment Details

The Board of Directors of Asian Paints Limited held a meeting on Monday, 7th September 2026. The meeting commenced at 2:00 pm IST and was scheduled to continue until 5:00 pm IST.

Based on the recommendation of the Nomination and Remuneration Committee, the Board unanimously approved the appointment of Mr. Leo Puri (DIN: 01764813) as an Additional and Independent Director of the Company.

Term of Appointment: First term of five (5) consecutive years commencing from 7th September 2026 to 6th September 2031.

Condition: Subject to approval of the shareholders of the Company.

Chairman Appointment Transition

In continuation of the Company's previous communication (reference no. APL/SEC/32/2023-24/37 dated 25th July 2023), which informed about Mr. R. Seshasayee (DIN: 00047985) being appointed as Chairman of the Board effective 1st October 2023 until the conclusion of his term as an Independent Director on 22nd January 2027, the Board has now appointed Mr. Leo Puri as the Chairman of the Board.

Effective Date: 23rd January 2027

Term as Chairman: Mr. Puri shall hold office as Chairman until the conclusion of his current term as an Independent Director, subject to shareholder approval for his appointment as an Independent Director.

Director Profile and Independence

Name: Leo Puri

Age: 65 years

DIN: 01764813

Qualifications:

  • Masters in Philosophy, Politics and Economics, University of Oxford, U.K.
  • Masters in law, University of Cambridge, U.K.

Professional Background: Industry leader and financial sector veteran with four decades of experience. Currently serves as Advisory India Chair at Apax (global private equity firm).

Current Board Positions:

  • Chairman and Independent Director at Fortis Healthcare Limited
  • Lead Independent Director at Dr. Reddy's Laboratories Limited
  • Independent Director at Amadeus IT Group (Madrid, Spain)

Previous Roles:

  • 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
  • Senior Partner at McKinsey & Company

Additional Roles: Chairs the Governing Council of the Institute for Sustainability, Employment and Growth (not-for-profit policy body working with State and Central governments on renewable energy, smart cities and employment generation initiatives). Previously served as Chairman of the Association of Mutual Funds in India (AMFI) and member of various government and regulatory advisory committees.

Independence and Eligibility Confirmation

Mr. Leo Puri is not related to any of the Directors, Key Managerial Personnel, or members of the Promoter(s) & Promoter(s) Group of the Company.

He meets the criteria of independence as prescribed under the Companies Act, 2013 and Listing Regulations. He has not been debarred from holding the office as a Director by any order passed by SEBI or any other authority. He is not disqualified from holding office as a Director pursuant to Section 164 of the Companies Act, 2013.

Shareholder Approval Process

The approval of shareholders for Mr. Puri's appointment as Independent Director will be sought by Postal Ballot. Requisite details will be communicated in due course.