Lubricant maker Castrol India on Tuesday named Deepesh Baxi as its Chief Financial Officer (CFO) and Whole Time Director, replacing Rashmi Joshi, who will be stepping down from her current position on December 31.

Baxi, who is currently Financial Controller for Castrol’s businesses globally will take up the role and join the Board on January 1, 2021.

Joshi will move to another leadership position in BP after having served Castrol India for seven years as CFO and Wholetime Director, it added.

The two officials will work together between now and the end of December to ensure a seamless transition, Castrol India said.

Rashmi has played a key leadership role offering financial stewardship and strategic insights to the business as it undertook several successful transitions during her tenure as CFO. On behalf of the board,” said Castrol India Chairman R Gopalakrishnan.

A chartered accountant with over two decades of industry and consulting experience, Baxi has spent the last 18 years in various roles within BP. He has worked in international markets including UK and Asia Pacific in several leadership roles spanning across finance, strategy, M&A, planning, audit, risk and compliance as well as business transformation, according to the release.

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