Ashwin Dani, the non-executive director of Asian Paints, passed away at the age of 79 on Thursday.
Mr. Dani continued to serve as a non-executive director on Asian Paints' board of directors after Deepak Satwalekar was officially appointed as the Chairman of the Board on June 23, 2021.
The Asian Paints board granted approval for Deepak Satwalekar's appointment as Chairman of the Board on June 23, 2021, while also announcing that Ashwin Dani would remain a non-executive/promoter director on the company's board.
This development was confirmed by Asian Paints in a stock exchange filing, which expressed deep regret at Mr. Ashwin Dani's passing due to a brief illness.
Ashwin Dani had a long and influential association with the company, dating back to 1968 when he joined the organization founded by his father and three others in 1942. He joined the company's board in 1970 and held the position of Vice Chairman and Managing Director from 1998 to 2009.
Since 2009, Mr. Dani continued to serve on the Board as the Non-Executive Director and Vice Chairman of both the Board and the Company. He also held the position of Chairman of the Board and the Company from 2018 to 2021. The statement highlighted Mr. Ashwin Dani's significant contributions to the company, emphasizing his role in driving technological excellence.
Under Ashwin Dani's leadership, Asian Paints expanded its global operations significantly, establishing the company as a prominent player in the global paint industry. Notably, he played a pivotal role in introducing India's first computerized color-mixing program.
In addition to his business endeavors, Mr. Ashwin Dani was a dedicated yoga practitioner and had a keen interest in the art collection. Forbes estimates his family's net worth to be $7.7 billion.
Ashwin Dani's academic background includes a Bachelor of Science degree from the Institute of Science, University of Mumbai. He later earned a Master's degree in polymer science from the University of Akron, Ohio, and completed a diploma in color science from Rensselaer Polytechnic in Troy, New York. Before joining Asian Paints, Mr. Dani worked as a development chemist at Inmont Corp in Detroit, US.
He is survived by his wife, Ina Dani, and together they have three children. Their son, Malav Dani, also serves on the board of Asian Paints.
