Castrol India appoints Rakesh Makhija chairman as R Gopalakrishnan exits

Castrol India announced that Satyavati Berera will join the board as an Independent Director and Chairperson of the Audit Committee, effective October 1

Castrol India Limited has appointed Rakesh Makhija as the chairman, following R Gopalakrishnan’s departure after 24 years of service, including five years in the chairman position, the company said in a press release on Tuesday.

“I am honoured to take on the role of Chairman at Castrol India. 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," Makhija said.

Makhija has held various senior management positions, including his role as President for the Industrial Market (Strategic Industries) and as a member of the SKF Group executive committee located in Gothenburg, Sweden. Previously, he served as President of SKF Asia, where he managed operations in China and India from Shanghai, and he was the MD of SKF India from 2002 to 2009.

Satyavati Berera joins Castrol India board

Alongside the appointment of the new chairman, the company announced that Satyavati Berera will join the board as an Independent Director and Chairperson of the Audit Committee, effective October 1.

After her appointment, Satyavati Berera said, “I am thrilled to join Castrol India at such a pivotal moment. 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."

Berera, who previously served as chief operating officer of PwC India, brings more than 40 years of expertise in business leadership and governance. She takes over from Uday Khanna, who is retiring after a distinguished career with the company, the press release said.

Sandeep Sangwan, managing director of Castrol India Limited said, "...Makhija’s wealth of industry knowledge, combined with 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 Gopalakrishnan and Khanna for their invaluable contributions to the company.”

Recently, the company appointed Kartikeya Dube as a Nominee Director, effective July 30, 2024. Additionally, Sangeeta Talwar, an Independent Director with vast expertise in marketing, sales, and leadership roles across several global corporations, will remain on the board. She will continue to chair the Nomination, Remuneration, and Compensation (NRC) committee and will also take on the role of Chair of the Corporate Social Responsibility (CSR) committee, the press release stated.