Castrol India Ltd. has announced the appointment of Mrinalini Srinivasan as its new Chief Financial Officer, effective July 28, 2025. With over 17 years of financial and strategic leadership experience at Procter & Gamble across diverse geographies, Srinivasan brings a wealth of cross-functional expertise to the lubricant major. She succeeds Deepesh Baxi, who stepped down in March 2025, and will work alongside interim CFO Vishal Thakkar to ensure a seamless transition. This leadership shift underscores Castrol’s commitment to reinforcing its financial framework as the company navigates an evolving energy and automotive landscape.
Strategic Leadership Transition
Castrol India’s appointment of Mrinalini Srinivasan as Chief Financial Officer marks a pivotal leadership transition for the company. Following the departure of former CFO Deepesh Baxi earlier this year, the firm has now formalized the succession with an executive who commands significant credibility in the global consumer goods and finance domain.
Srinivasan is set to assume office on July 28, 2025, and will partner with interim CFO Vishal Thakkar through August to ensure operational and strategic continuity during the transition phase. The company emphasized that her arrival aligns with its long-term financial and growth strategy.
A Proven Financial Strategist
Srinivasan brings more than 17 years of professional experience, having served in multiple senior financial roles at Procter & Gamble India. Her tenure at P&G spanned across business units and regions including Asia, the Middle East, and Africa—exposing her to varied regulatory environments, consumer trends, and capital structures.
Her leadership was marked by a consistent track record in optimizing financial performance, driving cross-functional alignment, and steering transformation across business ecosystems—traits that Castrol India’s executive board believes will be instrumental in the next phase of the company’s evolution.
Board and Management Endorsement
Welcoming Srinivasan, Kedar Lele, Managing Director of Castrol India, stated:
“Mrinalini’s ability to navigate complex environments and unite diverse teams under a shared financial vision will be invaluable as we pursue sustainable and inclusive growth.”
Rakesh Makhija, Chairman of the Board, also expressed confidence in Srinivasan’s capacity to influence strategic direction, noting:
“Her balanced outlook and hands-on financial leadership will strengthen our foundations as we adapt to shifts in the automotive and industrial lubrication sectors.”
Organizational Implications and Future Outlook
The appointment comes at a time when Castrol India is working to future-proof its operations amid macroeconomic shifts, emerging technologies, and the growing emphasis on ESG-led governance. A CFO with extensive global exposure adds credibility and resilience to the financial stewardship of the organization.
Srinivasan’s entry signals a proactive stance from Castrol India in preparing for industry realignments—including electrification trends in mobility, operational digitalization, and stakeholder value enhancement.
Final Thought
As Castrol India retools its leadership bench, Mrinalini Srinivasan’s induction as CFO is more than a routine appointment—it’s a strategic alignment of talent with ambition. Her proven acumen in high-stakes financial environments offers the company a strong fiscal compass, precisely when agility, prudence, and vision are most needed in the evolving Indian lubricant and energy marketplace.
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