Blue Star elects Vir S. Advani as Chairman & MD

Shailesh Haribhakti joined the Board of Blue Star in 2005 as an Independent Director and was elevated to the position of Independent Chairman in 2019. Under his exemplary leadership, the Company grew significantly with all its businesses performing very well.

Blue Star’s Board of Directors accepted Vir S Advani’s appointment as Chairman and Managing Director, effective April 1, 2024. He will succeed Shailesh Haribhakti, who will complete two consecutive terms as an independent director before resigning from the board on March 31, 2024.

Shailesh Haribhakti joined the Board of Blue Star in 2005 as an Independent Director and was elevated to the position of Independent Chairman in 2019. Under his exemplary leadership, the Company grew significantly with all its businesses performing very well.

Vir S. Advani has a bachelor’s degree in systems engineering and economics from the University of Pennsylvania. He also finished a comprehensive executive management program at Harvard Business School. Following a two-year stay at a private equity business in New York, Vir joined Blue Star Infotech Ltd. in 2000 and then formed Blue Star Design and Engineering Ltd. in 2003, serving as its Chief Executive Officer. In 2007, he joined Blue Star as Vice President of Corporate Affairs. He was elevated to Executive Vice President in 2008, President of Corporate Affairs and Special Projects in 2009, and Executive Director in 2010. In 2016, Vir was appointed Managing Director of the company. He was then promoted to the position of Vice Chairman and renamed Vice Chairman and Managing Director.

Vir will succeed Shailesh Haribhakti as Chairman and Managing Director with effect from April 1, 2024.

Shailesh Haribhakti, Chairman, Blue Star Limited adds, “Vir has been with the Blue Star group of companies for nearly 25 years. Having initially managed several independent assignments in associate companies, he joined Blue Star Ltd in 2007 and made valuable contributions in several senior staff and operational positions. India is a fast-growing market for air conditioning and refrigeration products, and Blue Star is well positioned to consolidate its market leadership and accelerate its growth. Vir is leading from the front and is spearheading the Company’s plans to grow faster than the market and improve its profitability through significant investments in R&D, Manufacturing, and expansion of international footprint. There is no doubt that he is the most deserving and the Blue Star Board is unanimous in selecting him as my successor with effect from April 1, 2024. I am confident that under his able leadership, Blue Star will sustain its good performance and reach new heights as it marches towards its centennial.”