Leading automotive lubricants company, Castrol India Limited, has appointed Deepesh Baxi as its new chief financial officer (CFO) and whole-time director.
Baxi, who is currently the financial controller for Castrol’s businesses globally, will take up the new role and join the Board on January 1, 2021, as per a company release.
Baxi will succeed Rashmi Joshi who will step down from her current position on December 31, 2020, after having served Castrol India for seven years as CFO and whole-time director.
R Gopalakrishnan, Chairman, Castrol India, said, “Rashmi has played a key leadership role offering financial stewardship and strategic insights to the business as it undertook several successful transitions during her tenure as CFO. On behalf of the Board, I would like to thank Rashmi for all she has done for Castrol India and extend a warm welcome to Deepesh.”
Baxi is a Chartered Accountant with over two decades of industry and consulting experience, having spent the last 18 years in various roles within the BP group. An alumnus of Indian Institute of Management (IIM), Ahmedabad, and a Certified Internal Auditor (CIA) from Institute of Internal Auditors, USA, he has worked in international markets including the UK and the Asia Pacific in several leadership roles spanning across finance, strategy, M&A, planning, audit, risk, and compliance as well as business transformation.
The company further informed that Baxi and Joshi will work together between now and the end of December to ensure a seamless transition. As Rashmi moves to pursue another role in the BP group, Castrol will be looking to leverage Deepesh’s rich, cross-cultural global experience to lead the strategic financial agenda for Castrol India.
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