DIC India has reshuffled its top leadership by appointing Hayato Kashiwagi as Managing Director and Praveen Kumar Asthana as Whole Time Director. The Board of Directors approved these changes on July 15, 2026, marking a significant shift in the company’s executive structure with Kashiwagi taking the helm from September 01, 2026, while Asthana assumes his role immediately. These appointments aim to strengthen operational oversight and strategic direction, pending final ratification by shareholders through a postal ballot.

The Board approved the appointments based on recommendations from the Nomination and Remuneration Committee. Mr. Kashiwagi, currently a non-executive director, will serve as Managing Director for a term of three years, not liable to retire by rotation. Mr. Asthana, previously the Chief Operating Officer, will serve as an Additional Director in the capacity of Whole Time Director for three years, also not liable to retire by rotation. Both roles are categorized as Executive Directors and Key Managerial Personnel under the Companies Act, 2013.

Key Leadership Appointments

The following table outlines the details of the new appointments:

In addition to these executive roles, Ms. Meghna Saini has been designated as Company Secretary (Compliance Officer) and Head Legal. She continues in her role as Key Managerial Personnel, bringing over a decade of experience in corporate secretarial and legal matters. Ms. Saini holds membership with the Institute of Company Secretaries of India (ICSI) and possesses a law degree along with an Executive Post Graduate Diploma in International Business from IIFT.

Professional Backgrounds

Mr. Hayato Kashiwagi brings 25 years of experience from DIC Corporation, the parent company. He serves as Regional Business Product Director for DIC Asia Pacific Pte Ltd, overseeing product growth across the Packaging and Graphic Division in the Asia Pacific region. His career spans sales, marketing, corporate management, and international business across Japan, Asia Pacific, and China. He holds a Bachelor of Commerce from Doshisha University and serves as a director for several DIC group entities including DIC Malaysia, DIC Graphics, and DIC Vietnam.

Mr. Praveen Kumar Asthana has more than three decades of work experience in leading multinational and Indian companies. He holds a B.Tech in Chemical Engineering from IIT Kanpur. At DIC India, he is responsible for Manufacturing, Quality, Procurement, Supply Chain, Projects, Safety, and Excellence. He has also been appointed as the Occupier of all the company’s factories.

Regulatory Compliance and Next Steps

The company disclosed these appointments pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing also references SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, and the SEBI master circular issued on July 11, 2023, last updated on January 30, 2026. Neither Mr. Kashiwagi nor Mr. Asthana is debarred from holding office by any SEBI order or other authority. There is no inter-se relationship between Mr. Kashiwagi and other directors, except for his prior role as a Non-Executive Director.

Shareholders will be asked to approve the appointments of Mr. Kashiwagi and Mr. Asthana through an upcoming postal ballot. All necessary actions in connection with the ballot have been initiated by the Board.

DIC India Limited has appointed Hayato Kashiwagi as Managing Director and Praveen Kumar Asthana as Whole Time Director to strengthen its leadership team. The Board of Directors approved these appointments during a meeting held on July 15, 2026. These leadership changes are subject to the approval of the company's shareholders and other relevant statutory approvals under the Companies Act, 2013.

Hayato Kashiwagi, currently a Non-Executive Director, has been designated as Managing Director in the category of Executive Director and Key Managerial Personnel. His appointment is for a term of 3 years with effect from September 01, 2026. Kashiwagi brings 25 years of experience from DIC Corporation, having served as the Regional Business Product Director of DIC Asia Pacific Pte Ltd. He holds a Bachelor of Commerce from Doshisha University.

The Board also appointed Praveen Kumar Asthana as an Additional Director in the capacity of Whole Time Director and Executive Director. Asthana, who currently serves as Chief Operating Officer, assumed the role on July 15, 2026, for a term of 3 years. With over three decades of experience, Asthana is a B.Tech in Chemical Engineering from IIT Kanpur and has been appointed as the Occupier of all the company's factories.

Additionally, the Board designated Ms. Meghna Saini as the Company Secretary (Compliance Officer) & Head Legal. Saini, who holds a membership with ICSI and is a law graduate, has over a decade of experience in corporate secretarial and legal matters.

The company has initiated a postal ballot process to seek shareholder approval for the appointment of Kashiwagi and Asthana. The detailed profiles and disclosures regarding the new appointees were submitted in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Appointments Summary