Asian Paints Limited Shareholders Approve Appointments and Reappointment of Independent Directors

Asian Paints Limited Shareholders Approve Appointments and Reappointment of Independent Directors​

Asian Paints Limited has formalized the appointment and re-appointment of two key independent directors following its Annual General Meeting (AGM) on July 9, 2026. The company's Board of Directors approved these moves based on recommendations from the Nomination and Remuneration Committee.

Mr. Sudhir Sitapati was appointed as an Additional and Independent Director for a term of five consecutive years, commencing from May 29, 2026, until May 28, 2031. Concurrently, Mr. Milind Sarwate was re-appointed as an Independent Director for a second term spanning five consecutive years, effective from October 21, 2026, to October 20, 2031. Both appointments received requisite majority approval from the shareholders at the AGM.

Mr. Sitapati and Mr. Sarwate are not related to any of the Directors or Key Managerial Personnel (KMP) or members of the Promoter Group of Asian Paints Limited. Furthermore, both individuals affirmed they meet all criteria for independence as prescribed under corporate regulations and have no disqualifications from holding the office as a Director.

Profiles of New and Re-appointed Independent Directors​

Mr. Sudhir Sitapati
Mr. Sitapati, aged 49, holds qualifications including a Master of Business Administration (IIM, Ahmedabad) and a Bachelor of Science degree in Mathematics with Economics Honours from St. Xaviers College, Mumbai.

He is currently the Managing Director and CEO of Godrej Consumer Products, a role he has held since 2021. Mr. Sitapati leads the company’s strategic transformation, focusing on crafting goodness for consumers in emerging markets. He also serves as Chair of the CII FMCG Committee and formerly co-chaired the CII National Committee on Food Processing.

Prior to joining Godrej Consumer Products, Mr. Sitapati spent over two decades at Unilever, leading various teams across functions and categories in India, Europe, Southeast Asia, and Africa. His last role at Hindustan Unilever was Executive Director - Foods and Refreshments. He is also an author of the best-selling book, The CEO Factory.

Mr. Milind Sarwate
Mr. Sarwate, aged 66, possesses extensive experience spanning over four decades in finance, governance, audit, risk management, strategy, and board oversight. His qualifications include a Bachelor's degree in Commerce (Honours) from the University of Bombay, and certifications as a Chartered Accountant, Cost Accountant, and Company Secretary.

Mr. Sarwate serves as an Independent Director on the boards of several companies, including Asian Paints Limited, CEAT Limited, Mahindra & Mahindra Financial Services Limited, OmniActive Health Technologies Limited, and Viyash Scientific Limited. He is also the Founder and Designated Partner of Increate Value Advisors LLP and Increate Social Value Advisors & Resourcers LLP, and Promoter Director of Increate Foundation.

His professional expertise encompasses corporate governance, financial stewardship, risk management, stakeholder value creation, and audit and internal controls. Mr. Sarwate has prior experience in leadership roles within consumer products companies such as Godrej Soaps Limited and Marico Limited. He received recognition for his work, including the ICAI Award 2011 (CFO - FMCG sector).

ASIANPAINT Stock Price Movement​

On Thursday, shares of Asian Paints Limited edged higher, closing at ₹2673.80 after a 0.42% gain. The stock saw a traded volume of 918,568 shares during the session.