Nykaa’s board of directors appoints Santosh Desai as an independent director

FSN E-Commerce Ventures (NYKAA) has appointed Santosh Desai as an independent director, effective July 15, 2024, for a three-year term, pending shareholder approval.

Santosh led Future Brands Ltd as CEO for 17 years and was president of McCann India. Over 20 years in advertising, he has strategically developed brands for various organizations, earning recognition as a thought leader in the Indian consumer brand sector.

Santosh serves on numerous boards including Think9 Consumer Technologies, Dainik Jagran Group, Breakthrough, Mudra Institute of Communication in Ahmedabad and Praxis Business School in Kolkata. Previously, he served on the boards of ING Vysya Bank and OXFAM India.

Welcoming Santosh’s appointment by Falguni Nayar, Executive Chairman, Founder and CEO of Nykaa he said, “Santosh’s experience in understanding the intertwined relationship between culture and brands has helped build several iconic brands. Nykaa’s unrivaled customer focus and innovation has enabled us to gain immense love and trust from consumers. We are confident that Santosh’s strategic guidance will help drive our vision to enhance the value of the Nykaa brand and strengthen our existing portfolio of brands for long-term global success.”

Commenting on his nomination, Santosh Desai he said, “I’m excited to join Nykaa as an independent director. With a customer-centric approach to retail, Nykaa has helped transform the beauty and lifestyle landscape in India. I look forward to contributing to the continued success and growth of this dynamic organization, using my experience in brand strategy and advertising to help shape its highly promising future.”

Santosh, an alumnus of IIM-Ahmedabad, is an academic who has lectured at universities here and abroad, spoken to the boards of global companies, written a column for the Times of India for two decades and is the author of the bestseller Mother Pious Lady.

The Nykaa Management Board consists of 10 members specialized in various fields. Nearly 40% are women, including independent directors Milind Sarwate, Anita Ramachandran, Seshashayee Sridhara and Pradeep Prameshwaram. All directors adhere to regulated appointment and reappointment periods.

Inspired by the Sanskrit origins of its name “Nayaka”, Nykaa aims to appeal to India’s 25 million consumers. With a focus on customer centricity, retail expertise and curated product selection, Nykaa shapes the beauty and lifestyle markets by providing each customer with a personalized experience.