CHAIRMEN EMERITI
ASHOK M ADVANI – CHAIRMAN EMERITUS
Ashok M Advani holds an MBA from the Harvard Graduate School of Business Administration, an Electrical Engineering degree from MIT, USA, and a BSc (Honours) from Mumbai University. His professional career with Blue Star spanned more than 47 years, including 33 years as Chairman. During this period, revenues multiplied more than 400 times and the Company established itself as a leader in the Air Conditioning and Commercial Refrigeration industry in India. He retired from the Board in November 2016. In recognition of his long and distinguished leadership at Blue Star, he was appointed Chairman Emeritus and is an invitee at Board Meetings. He continues his association with the Company as an advisor to the Board and the Executive Management.
SUNEEL M ADVANI – CHAIRMAN EMERITUS
Suneel M Advani is a double graduate in Electrical Engineering and Economics from MIT, USA. He also holds an LLB degree from Mumbai University. He spent his entire working career at Blue Star, starting as a management trainee in 1969 and moving up steadily to become President and Vice Chairman in 1984. He retired from his executive position in 2014, and was designated Vice Chairman of the Board. He was elevated to Chairman of the Board from December 2016. After spending 50 years in the Company, including 36 years on its Board, he retired as Chairman of the Board on March 31, 2019. In recognition of his long and exemplary leadership at Blue Star, he was appointed Chairman Emeritus. He continues his association with the Company as an advisor to the Board and the Executive Management.
Mr Advani established Blue Star’s presence in computer software development and export, and when this division was spun off to become Blue Star Infotech Ltd in 2000, he assumed the position of Chairman there and later, Managing Director as well, in addition to his responsibilities in the Company. In the span of his career, Mr Advani formed many joint ventures with global majors such as HP, Motorola and Stork-Comprimo in the hi-tech area with Indian entities in the air conditioning ancillaries field. For Blue Star and Blue Star Infotech, he conceived and completed several corporate acquisitions. Over the years, he served on the managing councils of several industry and trade bodies, such as CII, and is the founder and a Past President of the Refrigeration and Air Conditioning Manufacturers’ Association (RAMA).
BOARD OF DIRECTORS
VIR S ADVANI - CHAIRMAN & MANAGING DIRECTOR
Vir S Advani holds Bachelor’s degrees in Systems Engineering and Economics from the University of Pennsylvania. He has also completed a comprehensive Executive Management Programme at Harvard Business School. Mr Advani, after a two-year working stint in private equity in New York, joined Blue Star Infotech Ltd in 2000 and then founded Blue Star Design and Engineering Ltd in 2003, serving as its Chief Executive Officer.
In 2007, he moved to Blue Star as Vice President of Corporate Affairs and later became Executive Director in 2010. In April 2016, he was appointed as the Managing Director of the Company, and in April 2019, he was elevated to Vice Chairman and redesignated as Vice Chairman & Managing Director. In April 2024, he assumed the position of Chairman & Managing Director at Blue Star.
In his enhanced role, Mr Advani is the primary interface between the Board and the Executive Management, and directly oversees the Professional Electronics & Industrial Systems business, International Operations, Corporate Finance, Corporate Human Resources, Information Technology and Corporate Planning.
He is active in the Confederation of Indian Industry (CII), where he is an elected member of the CII National Council and is the Chairman of the Trade Policy Council.
Directorship and Full-Time Positions in Body Corporates
B THIAGARAJAN - MANAGING DIRECTOR
B Thiagarajan holds a Bachelor’s degree in Electrical and Electronics Engineering from Madurai University. He has also completed the Senior Executive Programme from London Business School. He has more than four decades of experience, having worked for reputed companies such as Larsen & Toubro Ltd, BPL Systems Ltd and Voltas Ltd, prior to joining Blue Star in 1998
Mr Thiagarajan has handled various assignments in Service Business, Corporate Communications & Marketing and Corporate Affairs & Planning before he was promoted to President of AC&R Products Group in 2009. He was elevated to the Board in 2013 and was appointed as Joint Managing Director in 2016 before taking charge as Managing Director with effect from April 2019. He currently oversees the Air Conditioning and Refrigeration business operations in India, including Sales & Marketing, Manufacturing, R&D, Supply Chain and Customer Service. He also oversees Corporate Communications and Public Relations functions
Mr Thiagarajan plays an active role in various industry forums and is the Past President of Refrigeration and Air Conditioning Manufacturers Association (RAMA) and the Past Chairman of CII Western Region and CII Maharashtra State.
He is currently a member of the CII National Council and chairs the CII National Committee on Consumer Electronics and Durables. He is also the National Chairman of the Indian Green Building Council and Chairman of CII Green Cooling Council.
P V Rao - Executive Director
P Venkata Rao holds a Bachelor's degree in Mechanical Engineering, an MBA in Marketing, and a Post Graduate Diploma in Industrial Relations and Personnel Management. Additionally, he has completed the 'Senior Executive Program' from the London Business School. Mr Rao joined Blue Star in 1985 and has had a long and successful career with the Company. Throughout his tenure of 39 years, he has held various roles and responsibilities and played a significant role in the turnaround of the Electro-Mechanical Projects business, making it a profitable segment with a differentiated value proposition of Superior Projects Delivery.
In his role as the Executive Director - Projects, Solutions, and International, he will continue to oversee the Electro-Mechanical Projects, Central Air Conditioning products and services business in India. He is also spearheading the expansion of air conditioning and refrigeration business in the Middle East & Africa markets.
Mr Rao represents Blue Star Limited in the CII Maharashtra State Council as an elected member. He is also a Life Member of the Indian Society of Heating, Refrigerating and Air Conditioning Engineers (ISHRAE).
SAM BALSARA - INDEPENDENT DIRECTOR
Sam Balsara holds a Bachelor’s degree in Commerce and a Post Graduate Diploma from Jamnalal Bajaj Institute of Management Studies. He is Chairman of Madison World, which is amongst India’s largest media and communication agencies and has more than 50 years of extensive experience in marketing, advertising and media. Mr Balsara started his career at Sarabhai’s in 1972, with stints thereafter at Cadbury India Ltd, Contract Advertising Company (WPP), and Mudra Communications, before founding Madison in 1988. Madison Media is ranked by RECMA as the ‘4th Largest Independent Media Agency’ of the world by billings.
Mr Balsara has won many accolades, such as ‘The Most Influential Person in Media’ by Economic Times-Brand Equity for 10 consecutive years; IAA Leadership Award for ‘Media Agency Professional of the Year’ in 2013; ‘Lifetime Achievement Award’ in 2009 from the Advertising Agencies Association of India; and has been a jury member at the International Festival of Advertising in Cannes in 2005 as well as 2014, to name a few. He has held prestigious positions in several associations, such as President of AAAI, of which he continues to be an Executive Committee member; and Chairman of The Advertising Standards Council of India, 2000-2001, and presently its Advisor, amongst others. He joined the Blue Star Board in June 2017.
Directorship and Full-Time Positions in Body Corporates
ANIL HARISH - INDEPENDENT DIRECTOR
Anil Harish is a partner at the law firm, D M Harish & Co, and his practice includes many diverse areas of law, including Property, Exchange Control, Foreign Investments, Trusts, Wills, and Indian as well as International Taxation. He has been on the Managing Committee of Indian Merchants Chamber, Chamber of Tax Consultants, and ITAT Bar Association. He has also been an office bearer of several institutions in the legal field, such as the Society of Indian Law Firms, of which he was the Vice President. Mr Harish has been ranked by the prestigious legal directory of Chambers & Partners as a leading tax lawyer. He has authored several articles, which have been published in leading newspapers and professional journals.
He is also a director of other reputed companies, including Hinduja Global Solutions Limited and NDL Ventures Limited. He is also involved with several educational and charitable trusts and is a Trustee of the Hyderabad (Sind) National Collegiate Board. He joined the Board of Blue Star in November 2017.
RAJIV R LULLA - NON-EXECUTIVE DIRECTOR
Rajiv R Lulla holds a Bachelor’s degree in Mechanical Engineering with Electronics from King’s College, London, and a Master’s degree from Imperial College, London. He is a Founding Partner at Deep Blue Advisors, a technology-enabled financial services firm
Mr Lulla has over 25 years of experience, primarily as an investment banker specialised in merger advisory and corporate finance and has completed transactions representing a combined value more than USD 220 billion across multiple industry sectors, including industrial, infrastructure, transport and telecom. He has held senior global leadership roles at Merrill Lynch, the Credit Agricole Group, and Deutsche Bank, in New York, London, Paris and Hong Kong. He joined the Board of Blue Star in December 2016.
Directorship and Full-Time Positions in Body Corporates
SUNAINA MURTHY - NON-EXECUTIVE DIRECTOR
Sunaina Murthy holds a Bachelor’s degree in Molecular Genetics from the University of Rochester and a Master’s degree in Biotechnology from Northwestern University. She has earned an IICA Certificate in Corporate Governance and a Competent Boards Certificate in Climate and Biodiversity. She began her career as a cancer researcher at the University of Pennsylvania, and then worked at a venture capital firm specialising in life sciences. Thereafter, she co-managed a USD 3 billion healthcare fund for AIM Capital Management, USA, where she made investments in publicly traded companies in the areas of biotechnology, medical devices, pharmaceuticals, hospitals and other healthcare services. Since moving back to India in 2006, she has and continues to consult for US and India-based venture capital firms that invest in the life sciences and healthcare sectors and for companies in the life sciences space.
Sunaina has been a member of the Board of Blue Star Engineering & Electronics since 2023. She has also served on the Board of Trustees of the Blue Star Foundation for the past 12 years. She joined the Blue Star Board in April 2019.
Directorship and Full-Time Positions in Body Corporates
ANITA RAMACHANDRAN - INDEPENDENT DIRECTOR
Anita Ramachandran has done her Master’s in Business Administration (MBA) from Jamnalal Bajaj Institute of Management Studies, Mumbai. She is a well-known HR expert in the country with over 40 years of experience as a management consultant and has received several academic honours.
Commencing her career in the Management Consultancy division of AF Ferguson & Co in Mumbai in 1976 as the first woman consultant in the firm, Ms Ramachandran worked across a wide range of areas such as industrial market research, strategy, and human resources, amongst others, in various parts of the country and grew to become a director of the firm. After a successful stint of 19 years with the firm, she founded Cerebrus Consultants to focus on HR advisory services, including organisation transformation. Cerebrus has worked with over 800 companies in South Asia on a wide variety of HR projects.
Ms Ramachandran is known as an authority in rewards management, apart from being a strategic advisor to many family groups and a mentor to several PE firms and start-ups. She has been an Independent Director on the Boards of several companies and is currently on the Board of Grasim, Metropolis Healthcare, Happiest Minds, and FSN E-commerce, amongst others. She also supports many organisations in the social sector and is deeply committed to working with women. She has been, in the past, Chairperson of TiE Women, and on the Executive Committee of TiE Mumbai, as well as was on the Advertising Standards Council of India. She joined the Blue Star Board in June 2022.
Directorship and Full-Time Positions in Body Corporates
ARVIND K SINGHAL - INDEPENDENT DIRECTOR
Arvind K Singhal holds an Engineering degree in Electronics and Communication from IIT- Roorkee, which also recognised him as a ‘Distinguished Alumnus,’ and an MBA in Finance and Marketing from UCLA, USA. He is the Founder and Chairman of Technopak Advisors, one of India’s leading management consulting firms focusing on three key sectors that include Consumer Products & Retail, Textiles & Apparel, and Food & Food Services.
He is also an Independent Director of Metro Brands Limited and is on the Advisory Board of the Dubai-headquartered Apparel Group and the Delhi-based Pahle India Foundation (PIF). He joined the Blue Star Board in February 2019.
Directorship and Full-Time Positions in Body Corporates
DINESH N VASWANI - NON-EXECUTIVE DIRECTOR
Dinesh N Vaswani holds an MBA from the Wharton School of Business and a BBA cum laude from the University of Texas at Austin. He is the Founder and Managing Director of Acuitas Capital Advisors Pvt Ltd, a multi-family investment office that advises families on their investments. He has over three decades of experience in both investing and operating companies in India and the US.
Mr Vaswani was a Managing Director at Temasek Holdings Advisors India Pvt Ltd, established Bessemer Venture Partners’ operations in India, and was the CEO of Blue Star Infotech, USA. He has served on several Boards of public and private companies, including Firstsource, Mindtree, Venture Infotech, and Borosil. He joined the Board of Blue Star in December 2016.
G MURLIDHAR - INDEPENDENT DIRECTOR
G Murlidhar is a Chartered Accountant, Cost & Management Accountant and Company Secretary and has completed AMP from Harvard Business School, USA. He is a finance professional with wide experience in a variety of industries, including insurance, financial services, engineering, pharma and manufacturing. He is a Non-Executive Director of Kotak Mahindra Life Insurance Company Ltd and Kotak Mahindra General Insurance Company Ltd.
Mr Murlidhar joined Kotak Life Insurance as a founding member in 2001, and has held several leadership positions, including CFO and COO. He was the Managing Director and CEO of the Company from 2011 until his superannuation in 2021 and was instrumental in establishing a strong financial and operational backbone for the Company, in addition to developing a diversified and balanced distribution network.
He has been the recipient of various prestigious awards, including ‘CA Business Leader – Insurance’ from the Institute of Chartered Accountants of India, and ‘Insurance CEO of the Year’ from FICCI. As a prominent leader of the insurance industry, he was the Co-chairman of Insurance Committee of FICCI, a member of the Executive Committee of Life Insurance Council, and a Member of Insurance Advisory Committee (IAC) of IRDAI. He joined the Board of Blue Star in January 2024.
VIPIN SONDHI - INDEPENDENT DIRECTOR
Vipin Sondhi holds a Bachelor’s degree in Technology in Mechanical Engineering from IIT, Delhi and a Post Graduate Management Degree from IIM, Ahmedabad. He has four decades of experience in the Manufacturing and Engineering sector. He has been the Managing Director and Chief Executive Officer of Tecumseh India, JCB India and Ashok Leyland. He has also worked with other reputed organisations, including the Escorts Group, Shriram Honda Power Equipment and Tata Iron & Steel Company.
He currently holds several advisory roles, such as Chairperson, National Board for Quality Promotion, Quality Council of India; Member, Technology Advisory Group to Empowered Technology Group (Appointed by Principal Scientific, Advisor to the Government of India); Chairperson of the Confederation of Indian Industry’s National Forum on Industry - Academia Partnership, and Member and Governing Board of I-Hub for Autonomous Systems Innovation Foundation, IISc, Bangalore. In addition, he has been the past Vice President of Society of India Automobile Manufacturers (SIAM) and is on the Board of several not-for-profit organisations such as Bharatiya Yuva Shakti Trust, Ananta Centre and Sasakawa India Leprosy Foundation. He joined the Board of Blue Star in January 2024.
Directorship and Full-Time Positions in Body Corporates
