Asian Paints Limited has issued a postal ballot notice seeking shareholder approval for the appointment of Leo Puri as an Independent Director for a five-year term commencing September 7, 2026.

The company disclosed this under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The remote e-voting period begins at 9:00 am on October 8, 2026, and concludes at 5:00 pm on November 6, 2026. Results will be declared on or before November 11, 2026.

Appointment details and tenure

Leo Puri (DIN: 01764813) was appointed as an Additional Director in the capacity of Independent Director by the Board on September 7, 2026. The proposed resolution seeks to confirm his appointment as an Independent Director, not liable to retire by rotation, for a consecutive term of five years ending September 6, 2031.

The Nomination and Remuneration Committee and the Board evaluated Puri’s suitability based on skills including leadership of complex organizations, strategic and financial expertise, and experience in consumer-facing and international businesses. The Board also elected him as Chairman of the Board effective January 23, 2027, following the completion of the incumbent Chairman's tenure.

Profile and professional background

Puri brings four decades of experience across finance, private equity, and corporate governance. He currently serves as the Advisory India Chair at Apax, a global private equity firm. His current board roles include Chairman and Independent Director at Fortis Healthcare Limited, Lead Independent Director at Dr. Reddy's Laboratories Limited, and Independent Director at Amadeus IT Group.

His prior leadership positions include Chairman of South & Southeast Asia for JP Morgan Chase, Managing Director and CEO of UTI Asset Management Company Limited, and Senior Partner at McKinsey & Company. He holds a Masters in Philosophy, Politics and Economics from the University of Oxford and a Masters of Law from the University of Cambridge.

Voting process and eligibility

Shareholders whose names appear in the Register of Members or Register of Beneficial Owners as of the cut-off date, October 2, 2026, are eligible to vote. The notice is being sent electronically to members with registered email addresses. Those without registered emails must update their details with MUFG Intime India Private Limited by October 26, 2026.

Voting rights are proportional to shareholding. Institutional shareholders must upload their Board Resolution or Authority Letter to cast their votes. The scrutinizer appointed for the process is Makarand M. Joshi of Makarand M. Joshi & Co.

What the Numbers Show

The disclosure highlights a structured succession plan rather than an immediate operational shift. By appointing Puri as an Independent Director now with a Chairman role starting January 2027, the company ensures a transition period of approximately four months. This allows the new director to familiarize himself with board processes before assuming the chairmanship, aligning with governance best practices for orderly leadership handover.

Asian Paints plans to raise prices by about 3% starting November 1, 2026, citing increased costs for raw materials, packaging, and logistics.

Price revision details

The planned price increase reflects rising input-side pressures across three cost categories. The following table summarises the key details of the announced revision:

The company attributed the decision to increased costs across raw materials, packaging, and logistics, which have collectively exerted pressure on its cost structure.