Asian Paints names former JPMorgan exec Leo Puri as next chairman

India's Asian Paints on Monday named Leo Puri as its chairman-designate, effective January 23, 2027, after appointing him to its board for ‌a five-year ⁠term.

Puri, ⁠whose board term runs until September 2031, will succeed R. Seshasayee.

The leadership transition comes at a time when India's top paint maker is facing mounting competition from new entrants ⁠and well-funded conglomerates ‌such as the Aditya Birla Group and JSW Group, which ⁠have stepped up investments in the decorative paints market, intensifying pressure on growth and margins.


Puri is a veteran of India's financial sector and has held senior roles at JPMorgan Chase, UTI Asset ‌Management and private equity firm Warburg Pincus.

He is currently the India advisory chair ⁠at global private equity firm Apax and chairman of Fortis Healthcare.

Puri is also lead independent director at Dr. Reddy's Laboratories and an independent director at Spain-based travel technology company Amadeus IT Group.