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Madhavan took the baton from Shekhar Kapur. The veteran filmmaker was appointed as the President of FTII on September 29, 2020. Prakash Javadekar, the former I&B minister had announced the news on Twitter. He shared the official letter of appointment and welcomed Shekhar to FTII. The tweet read, "Happy to inform that renowned international film personality #ShekharKapur has been appointed as the President of FTII Society & Chairman of Governing Council of FTII."

Before Shekhar, Anupam Kher was the President of FTII. He held the position in 2017. He succeeded television actor Gajendra Chauhan. The veteran actor chose to end his tenure in 2018 due to his busy schedule on international assignments.

Madhavan's appointment comes a couple of days after the 69th National Film Awards were declared at a press conference by the jury at the National Media Center, New Delhi. His directorial debut, Rocketry: The Nambi Effect, won the Best Feature Film award. The film was also headlined, written and produced by the actor. It was India’s official selection for its world premiere at the 75th edition of the Cannes Film Festival. 

Reacting to the National Award win, Madhavan, who played the lead role, shared with Mid-Day exclusively, "I feel very honoured to receive this prestigious award for winning the best film. This film is very close to my heart as it was my directorial debut as well and I dedicate it to the real hero, Nambi Narayanan, who inspired me with his courage and resilience. I thank my team, my co-stars, the Jury, and my fans for their constant support and love."