Nykaa, an e-commerce company, announced that Santosh Desai is now an independent director on its Board. His term starts on July 15, 2024, and lasts for three years, pending shareholder approval.
Santosh Desai's Background
Santosh Desai was the CEO of Future Brands for almost 17 years. He also served as the president of McCann. With over 20 years in advertising, he has helped build important brands for many companies.
Current Roles
Desai is on the boards of Think9 Consumer Technologies, Dainik Jagran Group, and Breakthrough. He is part of the Governing Councils at Mudra Institute of Communication, Ahmedabad, and Praxis Business School, Kolkata. Previously, he was on the boards of ING Vysya Bank and OXFAM India.
Nykaa's Leadership Comments
Falguni Nayar, Nykaa's CEO and founder, welcomed Desai. She said his experience in connecting culture and brands will help Nykaa grow. She believes his strategic advice will strengthen Nykaa’s brand and help achieve long-term success.
Desai's Thoughts on Joining Nykaa
Desai expressed excitement about joining Nykaa. He praised Nykaa's impact on the beauty and lifestyle market in India. He looks forward to using his branding and advertising experience to support Nykaa's growth.
Nykaa's Board Composition
Nykaa’s Board has 10 members with expertise in business strategy, technology, entrepreneurship, finance, governance, and human capital management. Other independent directors include Milind Sarwate, Anita Ramachandran, Seshashayee Sridhara, and Pradeep Prameshwaram. The terms of the independent directors follow regulatory guidelines.
