KANSAI NEROLAC PAINTS LIMITED Page 1 of 3
18th February, 2022 | |
1. Corporate Relationship Department | 2. Manager - Listing |
BSE Limited, | National Stock Exchange of India Ltd. |
Phiroze Jeejeebhoy Towers, | Exchange Plaza, |
Dalal Street, | Bandra - Kurla Complex, |
Mumbai - 400 001. | Bandra (E), Mumbai - 400 051. |
Sub.: Change in Key Managerial Personnel of the Company.
Ref.: 1. Regulation 30 (read with Schedule III - Part A) and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ;
2. Scrip Codes: BSE - 500165, NSE - KANSAINER
Dear Sirs,
In terms of Regulation 30 (read with Schedule III - Part A) and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations"), we wish to inform you that the Board of Directors has, at its Meeting held today, i.e. Friday, 18th February, 2022, (which commenced at 3.30 p.m. and concluded at 4.10 p.m.) considered / approved the following changes in the Board of Directors:
- Took on record the retirement of Mr. H. M. Bharuka (holding Director Identification Number: 00306084) as Vice Chairman and Managing Director of the Company on completion of his term from the close of business on 31st March, 2022 ("said date") and also accepted his resignation as a member of the Board of Directors of the Company from the said date.
- Approved the appointment of Mr. Anuj Jain (holding Director Identification Number:
08091524) as the Managing Director, for a term of five years, with effect from 1st April, 2022, subject to approval of the shareholders of the Company. Mr. Anuj Jain is not debarred from holding the office of director by virtue of any SEBI order or any other such authority.
Further, the details as required under SEBI Listing Regulations and SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 is enclosed herewith as Annexure A.
A Press Release on the subject matter is also attached.
The above is for your information and record.
For KANSAI NEROLAC PAINTS LIMITED
G. T. GOVINDARAJAN
COMPANY SECRETARY
Encl: As above
Page 2 of 3
Annexure A
Appointment of Mr. Anuj Jain as the Managing Director from 1st April, 2022
Sr. | Particulars | Remarks | |||
No. | |||||
1. | Reason for change viz. appointment, | Appointment | |||
resignation, | removal, | death | or | ||
otherwise | |||||
2. | Date of appointment/ cessation | Date of Appointment : 1st April, 2022 | |||
(as applicable) & term of appointment | Term : 5 (five) years | ||||
3. | Brief profile (in case of appointment) | Mr. Anuj Jain, aged 53 years, is B.Sc. and Master | |||
of Management Studies, University of Bombay | |||||
(Mumbai). Mr. Jain had joined Kansai Nerolac | |||||
Paints Limited ("the Company") on 4th June, 1990 | |||||
and was Director - Decorative and Industrial Sales | |||||
& Marketing, prior to his appointment on the Board | |||||
of Directors as a Whole-time Director with effect | |||||
from 1st April, 2018. He is now being appointed as | |||||
the Managing Director of the Company from | |||||
1st April, 2022 for a term of 5 years. His | |||||
appointment is subject to the approval of the | |||||
shareholders of the Company. | |||||
4. | Disclosure | of relationships between | Mr. Anuj Jain is not related to any of the Directors | ||
directors (in case of appointment of a | of the Company. | ||||
director) |
Page 3 of 3
February 18, 2022
Press Release
Ref: Change in guard at Kansai Nerolac Paints Ltd (KNPL)
The Board of Kansai Nerolac Paints Ltd (KNPL), is happy to announce the appointment of Mr Anuj Jain as the Managing Director of Kansai Nerolac Paints Ltd w.e.f. 1st April 2022. Mr Anuj Jain succeeds Mr H M Bharuka, Vice Chairman and Managing Director of Kansai Nerolac Paints Ltd who will be superannuating on 31st March 2022.
Mr Bharuka joined KNPL in 1985, becoming its Managing Director in April 2001.The hallmark of his tenure of 21 years as Managing Director has been the superlative and consistent topline and bottom-line performance year on year over his entire tenure, that has made KNPL a crown jewel for Kansai Paints, Japan. He was known for his visionary and bold leadership style which led to many firsts in the Indian Paint Industry. Under his leadership, KNPL won numerous accolades in a variety of areas notably the Golden Peacock Award for Corporate Governance, Best Managed Company by Business Today, Great Place to Work by GPTW and recognition as an ESG leader in India by CRISIL. Mr Bharuka featured amongst India's Top 50 CEOs and was awarded a life-time achievement award by the Indian Chemical Industry. Mr Bharuka served as the first non-Japanese Director on the board of Kansai Paints, Japan. He is also credited for leading KNPL's expansion into the Indian Subcontinent.
The Board of Directors would like to place on record their sincere appreciation and gratitude for the immense contribution made by Mr H M Bharuka during his career and as the Vice Chairman & Managing Director of KNPL.
Mr Anuj Jain joined Kansai Nerolac Paints Ltd in 1990 as a management trainee. In his tenure over 30 years at KNPL, he has worked in various capacities across various functions and brings a wealth of experience. He has been on the Board of KNPL in the capacity of Executive Director from 1st April 2018. The Board wishes Mr Anuj Jain the very best in his new role.
Commenting on his appointment Mr Anuj Jain said "I am deeply grateful to the Board and Kansai Paints, Japan for giving me an opportunity to not just be a part but lead this esteemed organization. I look forward to continuing the rich history of this company and build on the legacy of Mr Bharuka to take the company to greater heights".
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Kansai Nerolac Paints Limited published this content on 18 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 February 2022 11:21:09 UTC.
