Asian Paints appoints Leo Puri as chairman designate

MUMBAI: Asian Paints is giving its top chair a fresh coat of leadership. The company has appointed Leo Puri as an additional and independent director for a first term of five consecutive years, effective September 7, 2026, subject to shareholder approval.

The appointment was unanimously approved by the Asian Paints board at its meeting on September 7, following a recommendation from the Nomination and Remuneration Committee. Puri’s independent director term will run from September 7, 2026 to September 6, 2031.

The board has also designated Puri as chairman with effect from January 23, 2027. He will take over from R Seshasayee, whose tenure as chairman began on October 1, 2023 and whose term as an independent director ends on January 22, 2027.

Puri will remain chairman until the conclusion of his current independent director term, subject to shareholder approval of his appointment.

Asian Paints said Puri is not related to any of the company’s directors, key managerial personnel or members of the promoter and promoter group. It added that he meets the independence requirements under the Companies Act, 2013 and SEBI Listing Regulations.

At 65, Puri brings around four decades of experience spanning financial services, private equity and consulting. He currently serves as Advisory India Chair at Apax, the global private equity firm.

His existing board responsibilities include chairman and independent director at Fortis Healthcare, lead independent director at Dr Reddy’s Laboratories and independent director at Amadeus IT Group, headquartered in Madrid, Spain.

Puri’s previous leadership roles include chairman, South & Southeast Asia, at JP Morgan Chase; managing director and CEO of UTI Asset Management Company; managing director and general partner at Warburg Pincus; and senior partner at McKinsey & Company.

He also 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 areas including renewable energy, smart cities and employment generation.

His wider public and industry experience includes serving as chairman of the Association of Mutual Funds in India (AMFI) and as a member of several government and regulatory advisory committees.

Academically, Puri holds a Master’s degree in Philosophy, Politics and Economics from the University of Oxford and a Master’s degree in Law from the University of Cambridge.

Asian Paints will seek shareholder approval for his appointment through a postal ballot, with further details to be communicated by the company.