Mumbai, May 2024— FSN E-Commerce Ventures, also known as Nykaa, has announced the nomination of Santosh Desai as an independent director on its Board, beginning July 15, 2024. Desai’s term will last three years, subject to shareholder approval.
Santosh Desai brings extensive expertise to Nykaa’s board, having previously served as CEO of Future Brands for nearly 17 years. He also served as president of McCann, one of India’s biggest advertising firms. Desai has played an important role in the strategic creation of key brands for a variety of local and multinational enterprises during his extended advertising career.
Desai now serves on the boards of Think9 Consumer Technologies, Dainik Jagran Group, and Breakthrough. He also serves on the Governing Councils of the Mudra Institute of Communication in Ahmedabad and the Praxis Business School in Kolkata. He has served on the boards of ING Vysya Bank and OXFAM India, demonstrating his broad knowledge and dedication to a variety of sectors.
Falguni Nayar, executive chairperson, creator, and CEO of Nykaa, welcomed Desai’s hiring, noting, Santosh’s experience in understanding the interwoven relationship between culture and brands has helped build several iconic brands. Nykaa’s unrivaled customer centricity and focus on innovation have enabled us to garner tremendous consumer love and trust. We are confident that Santosh’s strategic guidance will help steer our vision to propel Nykaa’s brand equity and bolster our existing bouquet of brands for long-term global success.”
Santosh Desai commented on his new post, saying, “I am thrilled to join Nykaa as an independent director.” Nykaa’s customer-centric approach to retail has transformed the beauty and lifestyle industry in India. I am excited to contribute to the ongoing success and expansion of this dynamic business, using my experience in brand planning and advertising to help shape its bright future.”
Nykaa’s current board of directors consists of ten members with expertise in business strategy, technology, entrepreneurship, finance, governance and regulation, human resource management, and corporate social responsibility (CSR). Prominent independent directors on the board include Milind Sarwate, Anita Ramachandran, Seshashayee Sridhara, and Pradeep Prameshwaram. The tenure and reappointment of Nykaa’s independent directors correspond with regulatory regulations.
Desai’s appointment to the board is expected to bolster Nykaa’s strategic direction as the company continues to develop and extend its presence in the beauty and lifestyle industrie
