Nykaa board appoints Santosh Desai as independent director

New Delhi: FSN E-Commerce Ventures, which owns beauty and fashion platform Nykaa, announced the appointment of Santosh Desai as an Independent Director on its board, effective July 15, 2024.

The appointment is subject to shareholders' nod, according to a release.

"FSN E-Commerce Ventures (NYKAA) has announced the appointment of Santosh Desai as an Independent Director on its Board, effective 15th July 2024, for a period of three years, subject to the approval of shareholders," the release said.

An IIM-Ahmedabad graduate, Desai has served as the CEO of Future Brands for nearly 17 years. He has also served as the President of McCann, one of India's premier advertising agencies.

Desai is currently serving on the boards of Think9 Consumer Technologies, Dainik Jagran Group and Breakthrough.

Nykaa's current board of directors comprises 10 members with expertise in business strategy, technology, entrepreneurship, finance, governance and regulation, human capital management and CSR, according to the release.

Nykaa Executive Chairperson, Founder and CEO Falguni Nayar said, "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."