Asian Paints non-exec director Ashwin Dani passes away

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  • India’s Asian Paints on Thursday said Ashwin Dani, non-executive director of the paint maker, passed away.  
  • Dani had been associated with Asian Paints since 1968 and played a pivotal role in the company’s journey towards technological excellence. 
  • He was instrumental in introducing India’s first computerized color mixing program, revolutionizing the industry. 
  • Asian Paints expanded its operations globally under the leadership of Ashwin Dani, following which the firm became one of the leading paint companies in the world. 
  • Forbes estimated his family’s net worth to be $7.7 billion, reflecting his significant impact on the business world. 
  • Apart from business, Ashwin was also a yoga practitioner and had an interest in collecting art.  

Dani had been associated with Asian Paints since 1968, which was founded by his father and three others in 1942, and played a pivotal role in the company’s journey towards technological excellence. He joined the company’s Board in 1970 and held the position of Vice Chairman and Managing Director from 1998 to 2009.

Post-2009, Dani continued to serve on the Board as a Non-Executive Director and Vice Chairman of the Board and the Company. From 2018 to 2021, he held the prestigious position of Chairman of the Board and the Company.

Earlier on 23 June 2021, the Asian Paints board approved the appointment of Deepak Satwalekar as Chairman of the Board, saying Ashwin Dani shall continue to be on the board of directors of the company as a non–executive/promoter director.

The Asian Paints expanded its operations globally under the leadership of Ashwin Dani, following which the firm became one of the leading paint companies in the world. As per details, he was the first to introduce a computerized color mixing program in India. Under Dani’s leadership, Asian Paints significantly expanded its global operations, securing a prominent position in the global paint industry.

Born in Mumbai, Dani pursued a Bachelor of Science degree from the Institute of Science, University of Mumbai. He furthered his education with a Master’s degree in polymer science from the University of Akron, Ohio, and a diploma in color science from Rensselaer Polytechnic in Troy, New York. Prior to joining Asian Paints, he worked as a development chemist at Inmont Corp in Detroit, US.

The passing of Ashwin Dani marks the end of an era in Asian Paints’ history. His contributions to the company and the business world at large will always be remembered with deep respect and appreciation.

Married to Ina Dani, Ashwin has three children. Their son, Malav Dani, is on the board of Asian Paints. Forbes estimated his family’s net worth to be $7.7 billion, reflecting his significant impact on the business world.

In the March to June quarter this year, Asian Paints posted a consolidated net profit of ₹1550.4 crore, showing a robust 50 percent year-on-year growth. The firm’s consolidated sales rose 7 percent to ₹9,153.8 crore.

Apart from business, Ashwin was also a yoga practitioner and had an interest in collecting art.

(With inputs from agencies)

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