Asian Paints said Amit Syngle, chief operating officer, will succeed KBS Anand as the managing director (MD) & CEO with effect from 1 April 2020.
KBS Anand, MD and CEO, will retire from the services of the company from 31 March 2020. Amit Syngle will hold the position as MD & CEO for a period of three years upto 31 March 2023. The announcement was made on Saturday, 28 March 2020.
The paint maker's consolidated net profit jumped 20.23% to Rs 764.43 crore on a 2.99% increase in net sales to Rs 5,420.28 crore in Q3 December 2019 over Q3 December 2018.
Asian Paints is engaged in the business of manufacturing, selling and distribution of paints, coatings, products related to home decor, bath fittings and providing of related services.
Shares of Asian Paints fell 0.25% at Rs 1,602.25. The stock traded in the range of Rs 1,561 to Rs 1,619 so far.
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