Outcome of Board Meeting held on Thursday, 28 May 2026 - Appointment of Managing Director
CASTROLIND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Castrol India Limited's Board of Directors approved the appointment of Mr. Saugata Basuray as Managing Director for 5 years effective 1 June 2026. He is currently serving as Whole-time Director and Interim CEO of the company. Mr. Basuray has over 26 years of experience with Castrol across sales, marketing, and business leadership, having joined as a Management Trainee in 1999. He has worked across multiple countries including the UK, Philippines, and Indonesia. The appointment is subject to shareholder and other statutory approvals. The Board meeting lasted just 15 minutes.
This appointment provides continuity in leadership as Mr. Basuray transitions from interim to permanent role, with no major disruption expected given his internal tenure. The 5-year term offers stability, though shareholder approval is still pending.