Leadership Changes In Castrol India, Rakesh Makhija Takes Charge As Chairman

Castrol India has made key leadership changes to its board of directors. Effective today, industry veteran Rakesh Makhija has taken on the role of Chairman, succeeding R. Gopalakrishnan, who steps down after 24 years of dedicated service, including five years as Chairman.

Gopalakrishnan reflected on his tenure at Castrol India stating, “It has been an incredible journey to be part of Castrol India’s growth over the years. I am confident that under Mr. Makhija’s capable leadership, the company will continue to thrive and set new benchmarks in the industry.”

With more than four decades of experience, Makhija brings extensive expertise in leadership and strategic management. He has held prominent roles at SKF Group, Tata Honeywell and Honeywell International, and most recently served as the Non-Executive Chairman of Axis Bank.

“I am honoured to take on the role of Chairman at Castrol India. Having served as an Independent Director for the past five years, I have witnessed the company’s growth and potential. I am excited to see Castrol India going into its next phase of innovation and success,” said Makhija.

Alongside Makhija’s appointment as Chairman, Castrol India has also appointed Satyavati Berera as an Independent Director and Chairperson of the Audit Committee, effective immediately. Berera, previously the Chief Operating Officer of PwC India brings over 40 years of expertise in business leadership and governance. She succeeds Uday Khanna, who retires after an outstanding tenure with the company.

“I am thrilled to join Castrol India at such a pivotal moment. I look forward to working with the board and management team to ensure the company continues its strong performance and upholds the highest standards of governance,” said Berera.

Sandeep Sangwan, Managing Director of Castrol India expressed his enthusiasm for the appointments. “We are fortunate to have leaders of such high calibre joining our Board. Mr. Makhija’s wealth of industry knowledge, combined with Ms. Berera’s extensive experience in governance, will be instrumental as we continue to accelerate our growth and build on our legacy. I also extend my sincere gratitude to Mr. Gopalakrishnan and Mr. Khanna for their invaluable contributions to the company.”

The company recently appointed Kartikeya Dube as a Nominee Director, effective 30 July 2024. Dube brings with him over 30 years of experience in the energy sector, including an extensive tenure at BP.

Sangeeta Talwar, an independent director with vast experience in marketing, sales and leadership across global corporations will remain on the board. She will continue to chair the Nomination, Remuneration, and Compensation (NRC) Committee, while also taking on the role of Chairperson for the Corporate Social Responsibility (CSR) Committee.

All these appointments are pending approval from the company's shareholders.

Castrol India expresses its deep appreciation to Gopalakrishnan and Khanna for their dedicated service and contributions during their tenure with the company.