Castrol India Limited announced significant changes to its senior leadership on Friday, with Managing Director Kedar Lele set to step down at the end of December to pursue other opportunities outside the company.
The Board of Directors, which met today, disclosed that Lele will cease his role as Managing Director at the close of business on December 31, 2025. The announcement was made in a regulatory filing to the BSE and National Stock Exchange of India.
To ensure continuity, the Board has appointed Saugata Basuray as Interim Chief Executive Officer, effective January 1, 2026. Basuray will serve in this capacity until a new Managing Director is appointed by the company.
Currently serving as Wholetime Director and Head of B2C Sales at Castrol India, Basuray will be re-designated as "Wholetime Director & Interim CEO" when he assumes the additional responsibility in January.
Basuray brings over 25 years of experience with Castrol India, having joined as a Management Trainee in 1999 after completing his MBA from Symbiosis Institute of Business Management. His career has spanned multiple countries and continents, including leadership positions at Castrol's global headquarters in the UK, as well as Managing Director roles in the Philippines and Indonesia.
In his current role, Basuray has led a multi-year transformation of Castrol India's go-to-market strategy and significantly expanded the company's distribution network into rural India.
The Board meeting commenced at 2:45 PM IST and concluded at 3:00 PM IST on Friday.