Leo Puri steps down from Tata Sons board, weeks after exiting HUL

Leo Puri's exit from HUL was due to an increase in his board commitments, which included his proposed appointment on the board of a global entity

Don't want to miss the best from Business Standard?

Leo Puri, an independent director on the Tata Sons board, has stepped down after his term ended. According to a report in The Economic Times, Puri did not seek a renewal.

 

Puri is a financial sector veteran with over 30 years of experience in finance and consultancy. He has worked at McKinsey, Warburg Pincus, and UTI Asset Management Company. His recent exit from the Tata Sons board comes weeks after he resigned from the board of Hindustan Unilever (HUL), one of India's largest consumer goods companies.

 

Leo Puri bids adieu to HUL

 

Puri's exit from HUL was due to an increase in his board commitments, which included his proposed appointment on the board of a global entity. His exit from HUL will come into effect starting June 30, 2025.

 

Following his resignation from the HUL board, Puri shall also cease to be the Chairperson of the Risk Management Committee, ESG Committee, and Independent Committee and a Member of the Audit Committee of the company, the company noted in a regulatory filing on March 13.

 

Puri was appointed as an independent director for HUL on October 12, 2018, and on October 12, 2023, he was later reappointed.

 

Key positions held by Leo Puri

 

Leo Puri also serves as an independent director on the board of pharma major Dr Reddy's Laboratories and Fortis Healthcare. He is also the chairperson of Fortis Healthcare.

 

In March 2024, Puri joined a private equity firm, Apax Partners LLP, as its advisor to Apax and chairman for Apax India. Following his appointment, the company in a statement noted, "Puri has extensive experience in private capital and the broader financial services industry, having held senior roles at UTI Asset Management, McKinsey & Company, and Warburg Pincus in India."

 

In 2020, he took over the charge as the chairman of JPMorgan Chase for South and Southeast Asia.