Blue Star Limited announced that at its board meeting held on March 5, 2019, approved the appointment of Mr. Shailesh Haribhakti, Independent Director as the Chairman of the Board; retirement of Mr. Suneel M Advani as Director and Chairman of the Board and his appointment as Chairman Emeritus; elevation of Mr. Vir S Advani as Vice Chairman of the Board and his re-designation as Vice Chairman & Managing Director; elevation of Mr. B Thiagarajan to Managing Director of the company. The Board has unanimously approved the appointment of Mr. Shailesh Haribhakti as the Chairman of Blue Star with effect from April 1, 2019. He will succeed Mr. Suneel M Advani, who will be retiring from the Board on March 31, 2019 in accordance with the retirement policy for Non-Executive Directors.

Mr. Shailesh Haribhakti joined the Board of Blue Star in 2005 as an Independent Director and will be the first professional, Independent Chairman in the history of the company. He is a renowned Chartered Accountant, and among India's leading authorities on Audit and Tax related matters. After spending 50 years in Blue Star, including 36 years on the Board of Directors, Mr. Suneel M Advani will be retiring from the Board.

He has served the Company for the longest period that any individual has. The Board has appointed him Chairman Emeritus with effect from April 1, 2019. Mr. Vir S Advani has been elevated to Vice Chairman, and re-designated Vice Chairman & Managing Director with effect from April 1, 2019.

After a 2-year working stint in private equity in New York, Vir joined Blue Star Infotech Ltd. in 2000, and later founded Blue Star Design & Engineering Ltd. in 2003, designated as its Chief Executive Officer. In 2007, he moved to Blue Star as Vice President - Corporate Affairs. He was promoted as Executive Vice President in 2008; President - Corporate Affairs & Special Projects in 2009; Executive Director in 2010.

In 2016, Vir was appointed Managing Director of the Company. In his enhanced role, Vir will be the primary interface between the Board and the Executive Management, and will also directly oversee the Company's subsidiary Blue Star Engineering & Electronics Limited, International Operations, Corporate Finance, Corporate Human Resources, Information Technology and Corporate Planning. Mr. B Thiagarajan has been elevated to the position of Managing Director with effect from April 1, 2019.

Over the last two decades in Blue Star, Mr. Thiagarajan has handled a variety of assignments in the Service business, Corporate Communications & Marketing and Corporate Affairs & Planning, before being promoted to President - AC&R Products Group in 2009. He was elevated to the Board in 2013 and thereafter, was appointed Joint Managing Director in 2016. In his enhanced role, Mr. Thiagarajan will now be responsible for the Projects and Products businesses, Manufacturing, R&D, Supply Chain, Customer Service, Corporate Communications and Corporate Marketing Services.