.jpg)
Castrol India Limited, a leading lubricant manufacturer, has announced important changes to its board of directors. Effective immediately, Mr. Rakesh Makhija has been appointed as Chairman, succeeding Mr. R. Gopalakrishnan, who has stepped down after 24 years of dedicated service, including five years as Chairman.
Reflecting on his tenure, Mr. Gopalakrishnan stated, "It has been an incredible journey to be part of Castrol India’s growth over the years. I am confident that under Mr. Makhija’s capable leadership, the company will continue to thrive and set new benchmarks in the industry."
Mr. Makhija, an industry veteran with over four decades of experience, has held senior positions at SKF Group, Tata Honeywell Limited, and Honeywell International. He was also the Non-Executive Chairman of Axis Bank Limited prior to this appointment. "I am honoured to take on the role of Chairman at Castrol India," he remarked. "Having served as an Independent Director for the past five years, I have witnessed the company’s growth and potential. I am excited to see Castrol India going into its next phase of innovation and success."
In addition to Mr. Makhija’s appointment, Ms. Satyavati Berera has been welcomed as an Independent Director and Audit Committee Chairperson. A former Chief Operating Officer of PwC India, Ms. Berera brings extensive experience in business leadership and governance. She succeeds Mr. Uday Khanna, who retires after a distinguished tenure with the company. "I am thrilled to join Castrol India at such a pivotal moment," said Ms. Berera. "I look forward to working with the board and management team to ensure the company continues its strong performance and upholds the highest standards of governance."
Sandeep Sangwan, Managing Director of Castrol India Limited, expressed enthusiasm about the new appointments. "We are fortunate to have leaders of such high calibre joining our Board. Mr. Makhija’s wealth of industry knowledge, combined with Ms. Berera’s extensive experience in governance, will be instrumental as we continue to accelerate our growth and build on our legacy. I also extend my sincere gratitude to Mr. Gopalakrishnan and Mr. Khanna for their invaluable contributions to the company."
Recently, Mr. Kartikeya Dube was also appointed as a Nominee Director, effective 30 July 2024. Ms. Sangeeta Talwar, an independent director with a wealth of experience in marketing and sales, will continue her role on the board, chairing both the Nomination Remuneration and Compensation (NRC) Committee and the Corporate Social Responsibility (CSR) Committee.
All appointments are subject to shareholder approval.
