Rakesh Makhija replaces R Gopalakrishnan as Chairman at Castrol India

New Delhi: Castrol India, a lubricant manufacturer, announced key leadership changes to its board of directors. Effective today, Rakesh Makhija has assumed the role of Chairman, succeeding R. Gopalakrishnan, who steps down after 24 years of service, including five years as Chairman.  

Gopalakrishnan said, “It has been an incredible journey to be part of Castrol India’s growth over the years. I am confident that under Makhija’s capable leadership, the company will continue to thrive and set new benchmarks in the industry.”

With a career spanning over four decades, Makhija brings a wealth of experience in leadership and strategic management. He has held senior positions at SKF Group, Tata Honeywell, and Honeywell International, and was recently the Non-Executive Chairman of Axis Bank.

“I am honored to take on the role of Chairman at Castrol India,” said Makhija. “Having served as an Independent Director for the past five years, I have witnessed the company’s growth and potential. I am excited to see Castrol India going into its next phase of innovation and success.”

In addition to the Chairman’s appointment, Castrol India also welcomed Satyavati Berera as an Independent Director and Audit Committee Chairperson, effective today. 

Berera, a former Chief Operating Officer of PwC India, brings with her over four decades of experience in business leadership and governance. She succeeds Uday Khanna, who retires after a tenure with the company.

“I am thrilled to join Castrol India at such a pivotal moment,” said Ms. Berera. “I look forward to working with the board and management team to ensure the company continues its strong performance and upholds the highest standards of governance.”

Sandeep Sangwan, Managing Director of Castrol India, expressed his enthusiasm for the appointments. “We are fortunate to have leaders of such high caliber joining our Board. Makhija’s wealth of industry knowledge, combined with Ms. Berera’s extensive experience in governance, will be instrumental as we continue to accelerate our growth and build on our legacy. I also extend my sincere gratitude to Mr. Gopalakrishnan and Mr. Khanna for their invaluable contributions to the company.”

The company had recently also appointed Kartikeya Dube as a Nominee Director, effective 30 July 2024. Dube brings over three decades of experience in the energy sector, including a significant tenure at bp.

Sangeeta Talwar, an independent director with extensive experience in marketing, sales, and leadership roles at various global corporations, will continue to serve on the board. She will continue to Chair the Nomination Remuneration and Compensation (NRC) Committee as well as assume the Chairmanship of the Corporate Social Responsibility (CSR) committee.

All the above appointments are subject to approval of the company’s shareholders.

Castrol India extends its sincere gratitude to Gopalakrishnan and Khanna for their unwavering commitment throughout their time with the company.