Edition:
India

Asian Paints Ltd (ASPN.NS)

ASPN.NS on National Stock Exchange of India

2,438.75INR
4 Dec 2020
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Summary

Name Age Since Current Position

Ashwin Dani

77 2018 Non-Executive Chairman of the Board

Amit Syngle

53 2020 Chief Executive Officer, Managing Director, Executive Director

Manish Choksi

52 2018 Non-Executive Vice Chairman of the Board

R. Jeyamurugan

2020 Chief Financial Officer, Company Secretary

Jigish Choksi

38 2019 Additional Non-Executive Director

Malav Dani

44 2013 Non-Executive Director

Abhay Vakil

68 2017 Non-Executive Director

Amrita Vakil

39 2014 Non-Executive Director

Suresh Narayanan

2019 Non-Executive Independent Director

Vibha Rishi

59 2014 Non-Executive Independent Director

Deepak Satwalekar

71 2000 Non-Executive Independent Director

Ramaswami Seshasayee

71 2017 Non-Executive Independent Director

M. Sharma

72 2012 Non-Executive Independent Director

Pallavi Shroff

64 2019 Non-Executive Independent Director

Swaminathan Sivaram

72 2001 Non-Executive Independent Director

Biographies

Name Description

Ashwin Dani

Shri. Ashwin S. Dani serves as Non-Executive Chairman of the Board of the Company. He started his career in 1967, as a Development Chemist with Inmont Corp, (an Industrial Coatings manufacturer now known as BASF) Detroit USA. He joined Asian Paints as a Senior Executive in 1968 and moved through successive senior positions like Director - R&D, Works Director and Whole - time Director. He served as Vice- Chairman and Managing Director from December, 1997 to March, 2009 and presently holds the position of Non-Executive Chairman of the Company. At Asian Paints, Ashwin Dani has been responsible for the development and introduction of many new products for the first time in India. He pioneered the idea of Computerised Colour matching in the Indian industry. This concept is now widely used across industries in the field of paints, plastics, printing inks and textiles. He was also instrumental in setting up the 50:50 Joint Venture between Asian Paints Limited and PPG Industries, Inc. USA (the world’s second largest paint company). He was the founder Director on the Board of the first joint venture company with PPG Inc, PPG Asian Paints Private Limited, which is currently in its 23rd year if operations. Ashwin Dani is a technocrat and drives strong focus on Research and Development initiatives in line with consumer requirements within the Company. His knowledge of the business environment and vast experience in general management has been an asset to the Company. He is passionate about developing talent in the Company and was instrumental in introducing a large number of management graduates across all fields in the Company. He was the founder promoter for Loctite India Private Limited which is now Henkel Adhesive Technologies India Private Limited. Throughout his career, he has been associated with various government and trade bodies like the President’s Advisory Council of The University of Akron, Akron, Ohio, USA.

Amit Syngle

Shri. Amit Syngle serves as Chief Executive Officer, Managing Director, Executive Director of the Company. He holds a BE – Mechanical degree from Panjab Engineering College and has done MBA from CBM Panjab University. He has been working with Asian Paints for the last 30 years in various capacities across Sales, Marketing, Supply Chain & Research and Technology. He joined the Company as a Management Graduate and initially spent eight years in Sales and headed the North and Central parts of the country. He went on to spearhead the Kasna Plant in North India where he ushered new age Manufacturing excellence and big reforms in the IR environment. In 2001 he donned the mantle of General Manager - Marketing and gave the brand Asian Paints a modern, contemporary but yet a very Indian emotional identity. He soon headed the Sales & Marketing for the Decorative Business as Vice President. He became the President in 2012 and was responsible for not only the Sales & Marketing at Asian Paints but also headed the Research & Technology function across the organization where he ushered a huge culture of Innovation, which has seen more than 90 Innovative launches over the last 7 years. He has been the Chief Operating Officer (COO) for the last two years, heading the Indian Decorative business of more than US$ 2.5 billion. As part of this business he headed Supply Chain, Sales & Marketing and Research & Technology areas as well. In addition, he also spearheaded the newly acquired businesses of Kitchens and Bath spaces in the Home Improvement venture of Asian Paints. He has been a fast tracker and has been responsible for propelling the Asian Paints brand into a league of its own and has been the principal force for heralding the brand in the home space. He has initiated a lot of new initiatives and innovation platforms to grow the business over the last decade which has catapulted the company into exponential growths over the last 18 years.

Manish Choksi

Mr. Manish Choksi is Non-Executive Vice Chairman of the Board of the Company. He holds a Bachelor of Chemical Engineering degree from University of Houston, USA and MBA with specialization in Entrepreneurial Management and MIS from University of Houston, USA. He joined Asian Paints Limited in the year 1992 as an Executive and has grown in ranks by holding various positions across Sales, Information Technology, Supply Chain, Chemicals, International Business and HR functions of the Company. Before being inducted as the Non-Executive Director on the Board of Directors of the Company, he held the position of President-International Business, IT, HR and Chemicals. He was a member of the Executive Council of Asian Paints group and reported to the Managing Director & CEO of the Company. Mr. Manish Choksi spearheaded the Information Technology function of the Company and has been instrumental in leveraging IT solutions across the extended enterprise and achieving improved business performance. He was also the head of the International Business of the Company and has led the Company’s efforts in expansion of its emerging markets portfolio. He has been a catalyst for the Company’s foray into Home Improvement businesses. Mr. Manish Choksi has significantly contributed in achieving the Company’s growth plans and more particularly in the critical areas of implementation of Supply Chain Management solutions. He played an active role in restructuring the Joint Venture companies of the Company with PPG Industries Inc., USA. A leader in the IT community and the past Chairman of INDUS, a 1100+ company network of SAP users. He has been on the advisory boards of IBMs Collaboration business, the Asia Pacific Executive Advisory Board of SAP APAC, member of the Global Chemical Executive Advisory Board of SAP SE and a member of SUGEN, a global executive network of the all SAP user groups worldwide.

R. Jeyamurugan

Mr. R. J. Jeyamurugan serves as Chief Financial Officer, Company Secretary of the Company. He is an associate member of the Institute of Chartered Accountants of India (ICAI) and the Institute of Company Secretaries of India (ICSI). He joined the Company in the year 1991. He has considerable experience in the areas of finance, accounts, secretarial and taxation matters. He has held important positions in the organization including Assistant Company Secretary during August, 1997 to May, 1999. He heads the Finance, Accounts, Shared Service Centre, Tax, Legal, Secretarial & Investor relations functions of the Company. Before his appointment as the CFO & Company Secretary, he held the position of Vice President – Finance of the Company. He has also been the Compliance Officer of the Company since May, 2018.

Jigish Choksi

Mr. Jigish Shailesh Choksi serves as Additional Non-Executive Director of the Company. Mr. Jigish Choksi began his career with Asian Paints Limited (APL) in the year 2010 in the Sales and Marketing function. During his 5 year long stint with APL, he has worked as an Area Manager-Project Sales for 3 years and thereafter, has been a part of the Marketing team wherein he was in charge of several products that were launched under the Water Proofing range. Mr. Choksi is the Managing Director of M/s. Elf Trading & Chemicals Manufacturing Limited – an agro-chemical company. His key goal is to look at diversification of trading portfolio to more value-added products. Mr. Jigish Choksi is also extensively involved in his family businesses. He works with M/s. Navbharat Packaging Industries Limited, a corrugated box manufacturer that operates with a single manufacturing capacity located at Ankleshwar, wherein he is actively involved in market and customer acquisition initiatives as well as in diversification of the product portfolio. He also looks after his “Family Office” practice which invests in public equity and debt instruments as well as in startups.

Malav Dani

Shri. Malav A. Dani is Non-Executive Director of the Asian Paints Limited since 21st October, 2013. He holds B.S. (Bachelor of science) degree from Purdue University and an MBA (Master of Business Administration) from Columbia University. His education was rounded off with a six-year stint at General Electric (GE), during which he completed the Information Management Leadership (MLP) program as well as the Quality Six Sigma Black Belt Program. He worked with GE’s Corporate Treasury department and the project he helmed won the Alexander Hamilton Corporate Treasury Award. Malav joined Asian Paints Limited as Manager-Quality in 2005 and worked on customer centricity initiatives. He was appointed as a Non-Executive Director on the Board of the Company, since 2013 and is also the Chairman of the CSR Committee of the Board from October, 2015. Malav was the Executive Director of Hitech Specialities Solutions Ltd from 2007 – 2011 and has been the Managing Director of the Hitech Corporation Ltd. since 2012. He was the Chairman of Young Leaders Forum Committee of Indian Merchants Chamber from 2009- 2013, during his tenure, Malav was felicitated by Mr. Narendra Modi in 2010. He was also appointed as the Chairman of Ease of Doing Business Committee of Indian Merchants Chamber from 2015 – 2018 where he had an opportunity to present the Roadmap for India to improve its Ease of Doing Business ranking to the Joint Parliamentary Standing Committee on Commerce of Rajya Sabha.

Abhay Vakil

Shri. Abhay A. Vakil is Non-Executive Director of Asian Paints Limited. He holds a Bachelors’ Degree in Science from the University of Mumbai and B.S. from Syracuse University, USA. He has been associated with the Company since the year 1974. Prior to becoming the Managing Director in the year 1998, he was holding the post of Wholetime Director of the Company. Mr. Abhay Vakil was overseeing the decorative business and was in – charge of the supply chain/sales and marketing activities of the decorative business of the Company. His role also included containment of costs, maintenance of quality and ensuring achievement of the targeted sales and profits. He ceased to be a Whole-Time Director in the year 2009 and is now a Non-Executive Director on the Board of Directors of the Company.

Amrita Vakil

Ms. Amrita Amar Vakil serves as Non-Executive Director of the Company. She holds a Bachelor of Science Degree in Human Resources and Economics Degree from Michigan State University, East Lansing, Michigan. She began her career at Asian Paints Limited, in the year 2003 in the Human Resource department and was responsible for end-to-end training of the Executives cadre of the Company. She was also instrumental in the launch of employees’ intranet portal of Asian Paints Limited. In the year 2005, she joined Frost & Sullivan, an American Consulting Company as a Senior HR Executive and managed a Generalist HR profile. She handled HR operations for all their India & Middle East offices. She spent a total of 5 (five) years at Frost and Sullivan and then she quit the organization to pursue her passion in the hospitality sector and she continues to work towards it. Ms. Amrita Vakil is also an avid angel investor with particular interest in investing in start-ups.

Suresh Narayanan

Vibha Rishi

Mrs. Vibha Paul Rishi is Non-Executive Independent Director of the Asian Paints Limited since 14th May, 2014. Mrs. Vibha Paul Rishi is an alumnus of FMS, Delhi. She started her career with the Tata Administrative Services and was part of the founding team of Titan Watches. Mrs. Rishi was an Executive Director – Brand and Human Capital of Max India Limited. She is a seasoned marketing professional with extensive experience in Indian and international markets, coupled with an abiding passion for people. Her last role was as the Director, Marketing and Customer Strategy at the Future Group, India’s largest retail group. Prior to this she spent 17 years at PepsiCo in marketing and innovation roles in India, US and UK. She was one of the founding team employees of PepsiCo when they set up in India. She was also associated with Pratham, a NGO that works to provide education to underprivileged children in India.

Deepak Satwalekar

Shri. Deepak M. Satwalekar serves as Non-Executive Independent Director of the Company. He was appointed as a Dy. Managing Director of HDFC in 1990 and became Managing Director in 1993. Presently he holds the position of Managing Director & CEO of HDFC Standard Life Insurance Co. Ltd. Has been a consultant to the Wortd Bank, the Asian Development Bank, United States Agency for International Development (USAID) and the United Nations Centre for Human Settlement (HABITAT). He was involved in policy work as a member of the Steering Committee on Urban Infrastructure and Housing for the Ninth Five Year Plan of the Govt. of India and Chairman of the Working Group on avoidance of conflict of interest in the financial services sector set up by the Reserve Bank of India. He is a B.Tech. from the Indian Institute of Technology (lIT), Bombay and has completed his post graduation in business administration from the American University, Washington DC.

Ramaswami Seshasayee

M. Sharma

Shri. M. K. Sharma is Non-Executive Independent Director of Asian Paints Limited. He began his career with DCM Limited and subsequently joined Hindustan Unilever Limited (formerly Hindustan Lever Limited) (HUL) as Legal Manager. He joined the Management Committee of HUL in April, 1990 as Vice President, Legal & Secretarial and was inducted into the Board of HUL in August, 1995 as a Wholetime Director and served as the Vice Chairman from April, 2000 till his retirement in May, 2007. He holds Bachelor’s Degree in Arts and Bachelors of Law Degree from Canning College University of Lucknow.

Pallavi Shroff

Mrs. Pallavi Shardul Shroff serves as Non-Executive Independent Director of the Company. She is the joint – Managing Partner of M/s. Shardul Amarchand Mangaldas & Co., Solicitors & Advocates, which renders professional services to the Company.

Swaminathan Sivaram

Dr. Swaminathan Sivaram is Non-Executive Independent Director of Asian Paints Limited. He is a scientist of repute – his research interest being “Polymer Synthesis”. Dr. Sivaram has over 30 years of experience in research on polymer synthesis, high performance polymers and surface chemistry of polymers. In a career spanning achievements in the field of “Polymer Synthesis”, he has been felicitated in recognition of his contribution, with several awards and honours. He was bestowed with “Padma Shri” award by the President of India in January, 2006 for his contribution in the field of science and technology. He serves on the Editorial Board of several National and International journals in chemistry and polymer science. He is the Hon. Secretary of Society of Polymer Science, India. He holds M.Sc. from Indian Institute of Technology, Kanpur, Ph.D Purdue University, W. Lafayete, USA and Research Associate from The Institute of Polymer Science - Akron, USA.

Basic Compensation

Name Fiscal Year Total

Ashwin Dani

4,325,000

Amit Syngle

--

Manish Choksi

3,350,000

R. Jeyamurugan

6,057,850

Jigish Choksi

2,900,000

Malav Dani

3,080,000

Abhay Vakil

3,790,000

Amrita Vakil

2,930,000

Suresh Narayanan

3,020,000

Vibha Rishi

2,900,000

Deepak Satwalekar

3,350,000

Ramaswami Seshasayee

3,230,000

M. Sharma

3,670,000

Pallavi Shroff

2,800,000

Swaminathan Sivaram

3,010,000
As Of  31 Mar 2020