Sept 7 (Reuters) - India's Asian Paints on Monday named Leo Puri as its chairman-designate, effective January 23, 2027, after appointing him to its board for a five-year term.
Puri, whose board term runs until September 2031, will succeed R. Seshasayee.
The leadership transition comes at a time when India's top paint maker is facing mounting competition from new entrants and well-funded conglomerates such as the Aditya Birla Group and JSW Group, which have stepped up investments in the decorative paints market, intensifying pressure on growth and margins.
Puri is a veteran of India's financial sector and has held senior roles at JPMorgan Chase, UTI Asset Management and private equity firm Warburg Pincus.
He is currently the India advisory chair at global private equity firm Apax and chairman of Fortis Healthcare.
Puri is also lead independent director at Dr. Reddy's Laboratories and an independent director at Spain-based travel technology company Amadeus IT Group.
Reporting by Kashish Tandon in Bengaluru; Editing by Mrigank Dhaniwala
Source: Reuters