Rakesh Makhija Takes Over as Chairman, Satyavati Berera Named Independent Director Amid Leadership Reshuffle
Mumbai: In a significant leadership transition, Castrol India Limited, one of India’s leading lubricant manufacturers, announced major changes to its board today. The company has appointed seasoned industry leader Rakesh Makhija as its new Chairman, following the retirement of R. Gopalakrishnan, who stepped down after 24 years of exemplary service, including five years at the helm.
Reflecting on his departure, Gopalakrishnan expressed gratitude for his time at Castrol India. “It has been a remarkable journey to be part of the company’s growth story. I am confident that under Makhija’s capable leadership, Castrol India will continue to scale new heights,” he remarked.
Rakesh Makhija, a business stalwart with over four decades of experience across industry giants such as SKF Group and Honeywell International, is set to guide the company into its next phase of growth. Makhija previously served as an Independent Director at Castrol India for five years and most recently held the position of Non-Executive Chairman at Axis Bank.
“I am honored to step into the Chairman’s role,” Makhija said in a statement. “Having witnessed the company’s remarkable progress over the last few years, I am excited about the future as we continue to drive innovation and success.”
In another key appointment, Castrol India has named Satyavati Berera as an Independent Director and Chairperson of the Audit Committee. Berera, who brings over four decades of leadership experience, most notably as PwC India’s Chief Operating Officer, succeeds Uday Khanna, who retires after a long and impactful tenure with the company.
“Joining Castrol India at this dynamic juncture is an exciting opportunity. I look forward to contributing to the company’s ongoing success and governance excellence,” said Berera.
Castrol India’s Managing Director, Sandeep Sangwan, welcomed the new appointments with optimism, highlighting the expertise that both Makhija and Berera bring to the board. “Their deep industry knowledge and leadership experience will be invaluable as we continue to accelerate our growth and build on Castrol’s legacy,” he stated. Sangwan also extended heartfelt thanks to the outgoing leaders, Gopalakrishnan and Khanna, for their invaluable contributions.
In addition, the board welcomed Kartikeya Dube as a Nominee Director in July 2024. With over 30 years of experience in the energy sector, Dube is expected to add strategic insights to the company’s ongoing transformation.
Sangeeta Talwar, an independent director known for her extensive experience in marketing and leadership roles, will continue her service on the board, leading the Nomination, Remuneration, and Compensation (NRC) Committee and the Corporate Social Responsibility (CSR) Committee.
These appointments, subject to shareholder approval, mark a new chapter for Castrol India as it positions itself for sustained growth and governance excellence in the evolving energy landscape.
