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Nykaa Board named Santosh Desai as independent director

FSN E-Commerce Ventures (NYKAA) has announced the appointment of Santosh Desai as an Independent Director on its Board, effective July 15, 2024, for a three-year term, pending shareholder approval.

Santosh Desai served as the CEO of Future Brands Ltd for nearly 17 years and was the President of McCann, one of India’s premier advertising agencies. With over two decades in advertising, he has played a strategic role in building key brands for various local and multinational organizations, earning recognition as a thought leader in the Indian consumer brand space.

Currently, Santosh serves on the boards of Think9 Consumer Technologies, Dainik Jagran Group, and Breakthrough. He is also a member of the Governing Councils of Mudra Institute of Communication, Ahmedabad, and Praxis Business School, Kolkata. Previously, he served on the boards of ING Vysya Bank and OXFAM India.

Commenting on Santosh’s appointment, Falguni Nayar, Executive Chairperson, Founder and CEO, Nykaa said, “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 has 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.”

Commenting on his appointment, Santosh Desai said, “I am excited to join Nykaa as an independent director. Nykaa has driven a transformative change in the beauty and lifestyle landscape in India with its customer-centric approach to retail. I look forward to contributing to the continued success and growth of this dynamic organisation, leveraging my experience in brand strategy and advertising to help shape its highly promising future.”

An IIM-Ahmedabad graduate and an academic at heart, Santosh has served as a guest lecturer at various national and international universities and has addressed management boards of global companies. He has been contributing to a weekly column in the Times of India for nearly two decades and is the author of the bestselling Mother Pious Lady: Making Sense of Everyday India, a book that examines how the everyday life of middle-class India has evolved.

Nykaa’s current board of directors comprise of 10 members who offer their invaluable expertise in business strategy, technology, entrepreneurship, finance, governance & regulation, human capital management and CSR. Nykaa is among a rare league of companies where women form close to 40% of the board composition. Among the esteemed group of independent directors are Milind Sarwate, Anita Ramachandran, Seshashayee Sridhara, and Pradeep Prameshwaram. The tenure of Nykaa’s independent directors adheres to the framework prescribed by regulations and reappointments are in accordance with those regulations.

Inspired by the Sanskrit origin of its name ‘Nayaka’, which means one in the spotlight, Nykaa strives to shine the spotlight on its 25 million consumers in India. With its commitment to customer-centricity and the art of retailing, Nykaa continues to shape the beauty and lifestyle markets. Through its dynamic strategies, investments in technology and curated selection of both Indian and international brands, Nykaa offers a promise of unparalleled and personalized experiences for every customer.

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