Akzo Nobel India appoints Parth Jindal as Chairman

Akzo Nobel India, now acquired by JSW Paints, has appointed Parth Jindal, Managing Director of JSW Paints and JSW Cements, as its Chairman. 

The appointment, effective from Friday was approved by the board and is subject to shareholder approval.

The appointment was made based on the recommendation of the Nomination and Remuneration Committee and is subject to shareholder approval.

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The company has also appointed Shantanu Maharaj Khosla as an Independent Director on the board with immediate effect until January 8, 2029. Rajiv Rajgopal has been redesignated as Joint Managing Director and Chief Executive Officer, from his earlier role as Chairman and Managing Director.

In December, JSW Paints completed the acquisition of a 60.76 per cent majority stake in Akzo Nobel India from Akzo Nobel NV and its affiliates. It later acquired an additional 0.44 per cent from public shareholders through an open offer, taking its total stake to 61.2 per cent.

Akzo Nobel India Ltd reported a sharp jump in consolidated net profit for the July–September quarter, rising to ₹1682 crore from ₹97 crore in the same period last year. The increase was mainly due to a one time exceptional gain of ₹1874 crore recorded during the quarter.

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