Asian Paints Taps JPMorgan Vet Leo Puri as Chairman Amid Market Competition
Asian Paints has appointed Leo Puri as an additional independent director and designated him chairman of the board, effective January 23, 2027. This appointment comes after a recommendation from the nomination and remuneration committee, which was unanimously approved by the board. Puri will succeed R. Seshasayee, whose term as an independent director ends on January 22, 2027.
Puri has extensive leadership experience in financial services, private equity, and consulting. He currently serves as India advisory chair at Apax and holds positions at Fortis Healthcare, Dr Reddy's Laboratories, and Amadeus IT Group. Earlier in his career, Puri was chairman for South and Southeast Asia at JPMorgan Chase.
The appointment of Puri comes at a challenging time for Asian Paints, with increased competition in the decorative paints market. The Aditya Birla Group and JSW Group have invested heavily in the sector, and new entrants are seeking to gain market share.