Dani: Painting a legacy in innovation, initiative
NEW DELHI : Ashwin Dani, a prominent figure in the storeyed legacy of Asian Paints, which was founded by his father, has passed away at the age of 81 after a short illness. He served as a non-executive director of the firm. Dani played a pivotal role in developing India’s paints industry, capitalizing on increasing demand from the country’s emerging middle class.
Asian Paints was co-founded by Suryakant Dani in 1942 in partnership with Champaklal Choksey and Chimanlal Choksi and Arvind Vakil. Dani, a practitioner of Iyengar Yoga, embarked on his professional journey in 1967 as a development chemist with industrial coatings firm Inmont Corp. (formerly BASF).
In 1968, Dani joined Asian Paints as a senior executive, subsequently rising to the position of vice chairman, and then managing director between 1998 and 2009. Post-2009, he continued to contribute as a non-executive director and vice chairman of the board of the company. From 2018 to 2021, he was both the chairman of the board as well as the company.
During his tenure at Asian Paints, Dani initiated international joint ventures, diversification, and a strategic push into rural markets.He also held independent directorships on the boards of several leading listed companies. According to the 2022 Forbes listing of India's 100 richest, Dani's net worth was estimated at ₹67,841.77 crore, making him the 20th richest Indian. In FY23, Asian Paints reported revenues of ₹29,953 crore with a net profit of ₹4,100.2 crore, making it the largest paints company in India.
Read more on livemint.com
