Blue Star Ltd announced the appointment of Vir S Advani as its new Chairman and Managing Director, effective from the 1st of April. Advani will be succeeding Shailesh Haribhakti, who is set to retire on the 31st of March after completing two successive terms.

Advani’s association with Blue Star dates back to 2000, starting his journey at Blue Star Infotech. He then went on to establish Blue Star Design & Engineering Ltd in 2003 and held the position of CEO. Advani’s progression within the company has been notable, undertaking various significant roles including Vice President of Corporate Affairs in 2007, Executive Vice President in 2008, President of Corporate Affairs and Special Projects in 2009, and ascending to Executive Director in 2010.

In 2016, he was appointed as the Managing Director and later promoted to Vice Chairman & Managing Director in 2019. He is an alumnus of the University of Pennsylvania, holding degrees in Systems Engineering and Economics.

For the fiscal year concluding on 31st March 2023, Blue Star disclosed a total income of ₹8,008 crore and a net profit of ₹401 crore, as per their annual report.

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Shailesh Haribhakti, the outgoing chairman, highlighted India’s rapidly growing market in air conditioning and refrigeration products. He emphasised Blue Star’s strong position to solidify its market leadership and accelerate growth. Under Advani’s leadership, the company aims to outpace market growth and enhance profitability through substantial investments in research and development, manufacturing, and expanding its international presence.

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