Deepesh Baxi succeeds Rashmi Joshi as Castrol India’s new CFO

Castrol India, one of India’s leading automotive lubricants company has announced changes to its top management position. Deepesh Baxi will succeed Rashmi Joshi as the company’s chief financial officer (CFO) and Wholetime Director, as she steps down from her current position on December 31, 2020.

Baxi who is currently the financial controller for Castrol’s businesses globally will take up the role and join the Board on January 1, 2021. While Joshi will move to another leadership position in BP after having served Castrol India for seven years as CFO and Wholetime Director. Joshi and Baxi will work together between now and the end of December to ensure a seamless transition.

R Gopalkrishnan, 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.”

Sandeep Sangwan, MD, Castrol India added, “Having worked with Rashmi for close to a year now, I value her financial expertise, strategic guidance and commitment to strengthen the financial health of the business. I wish her success in her new role and look forward to working with Deepesh who will bring his rich, cross-cultural global experience to lead the strategic financial agenda for Castrol India.”

Baxi is a Chartered Accountant with over two decades of industry and consulting experience, having spent the last 18 years in various roles within BP. He is an alumnus of IIM, Ahmedabad and a Certified Internal Auditor (CIA) from Institute of Internal Auditors, USA. He has worked in international markets including UK and Asia Pacific in several leadership roles spanning across finance, strategy, M&A, planning, audit, risk and compliance as well as business transformation.