Sam Balsara to exit Blue Star after two consecutive terms

Blue Star Ltd. announced a series of leadership changes, including the retirement of independent director Sam Balsara, new board appointments and senior management elevations.

Balsara will retire on January 31, after completing two consecutive terms as an independent director. He joined the Blue Star board in June 2017 and was reappointed for a second term in June 2022. Balsara is chairman of Madison World and has more than five decades of experience in marketing and advertising.

During his tenure, Balsara advised the company on brand strategy, consumer insights and media trends. He also served as chairman of the nomination and remuneration committee.

Vir S. Advani, Chairman and Managing Director of Blue Star, said, “Blue Star is an 82-year-old brand, Sam has played a significant role in our strategic efforts to make it stronger, youthful, and relevant to the new generation consumers as well as Tier 3-4-5 markets. His marketing insights helped the Company to gain market share year after year. On behalf of the Board of Directors, I wish to place on record our deep appreciation for his outstanding contribution and exemplary service during his tenure.”

The board has also appointed M.S. Unnikrishnan as an independent director for a five-year term, effective January 29. Unnikrishnan has more than four decades of experience and is currently the head and CEO of the IITB-Monash Research Academy, a joint venture between IIT Bombay and Monash University, Australia. He previously served as managing director of Thermax Group.

Unnikrishnan currently sits on the boards of KEC International Ltd., Kirloskar Brothers Ltd., Greaves Cotton Ltd. and Livguard Energy Technologies Pvt. Ltd., and serves as a trustee of Akshayapatra and Jehangir Hospital in Pune. He holds a degree in mechanical engineering from Visvesvaraya National Institute of Technology, Nagpur, and has completed the Advanced Management Program at Harvard Business School.

Advani said, “Unnikrishnan, with his exemplary track record in leadership roles in running engineering products and projects, businesses and exposure to international markets, is a welcome addition to the Blue Star Board.”

B. Thiagarajan has been reappointed as Managing Director for a further term from April 1, 2026, to May 24, 2027, following the completion of his current term on March 31, 2026. Thiagarajan will step down a day before attaining the age of 70.

Thiagarajan, who joined Blue Star in 1998, was elevated to the board in 2013 and appointed joint managing director in 2016 before taking charge as managing director in April 2019. He holds a bachelor’s degree in electrical and electronics engineering from Madurai University and has completed the senior executive programme at London Business School.

Advani said the extension would support continuity. “Further extension of Thiagarajan’s tenure will help in accelerating the strategic programmes pertaining to growth, R&D, and manufacturing footprint, apart from a seamless leadership transition,” he said.

In addition, Mohit Sud has been appointed executive director, unitary cooling products, for a five-year term effective April 1, 2026. Sud joined Blue Star in March 2025 as group president, unitary cooling products, overseeing room air conditioners and commercial refrigeration.

Sud is a mechanical engineer with an MBA from XLRI, Jamshedpur, and has more than two decades of experience. Before joining Blue Star, he spent over 20 years at Hindustan Unilever, where he led sales and marketing across several product categories.

Advani said, “Mohit has been with Blue Star for about 10 months, and we have been grooming him for a Board-level leadership role. I am confident that his rich experience in the consumer space will help the Company in its mission to further improve its market share and enhance profitability in Unitary Cooling Products.”