Asian Paints Limited informed that the Board of Directors at their meeting held on October 22, 2019, based on the recommendations of the Nomination & Remuneration Committee, have approved the following: Mr. K B S Anand, Managing Director & CEO will be retiring from the Company on 31st March, 2020. Mr. K.B.S. Anand, Managing Director & CEO joined the Company in the year 1979 and has held various positions in Decorative Business Unit /Industrial Business /Chemical business functions of the Company. Mr. Amit Syngle, Chief Operating Officer, will succeed Mr. KBS Anand, Managing-Director & CEO of the Company, as the Managing Director & CEO with effect from 1st April, 2020.

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 reform in the IR environment. In 2001 he donned the mantle of General Manager Marketing and gave the brand Asiiim Paints a modern, contemporary but yet a very Indian emotional identity.

He soon headed the Sales & Marketing for the Decorative Business as Vice President. Mr. Jayesh Merchant, CFO & Company Secretary, President - Industrial JVs of the Company will be retiring from the Company on 26th November, 2019. Mr. Jayesh Merchant joined the Company in the year 2002 as Vice President- Finance & Company Secretary and has been leading the Finance, Accounts, Legal, Taxation and Secretarial functions of 1 the Company.

Mr. R J Jeyamurugan, Vice President - Finance is appointed as the CFO and Company Secretary of the Company effective from 27th November, 2019, in place of Mr. Jayesh Merchant. CFO & Company Secretary, President - Industrial JVs. The Audit Committee at its meeting held on October 22, 2019, also approved and recommended his appointment.

R J Jeyamurugan 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 1991, after completing his CA and CS. He has been nominated as a Director on the Board of APIPL by APL, since January, 2019.

He is also the Compliance Officer of the Company under SEBI Regulations since May, 2018.