Mr Haymes, 77, took over the company in 1974 and steered it through more than three decades of regeneration that made it a household name in Ballarat and across the country.

For years he was the face of the brand that remains family owned and operated in Ballarat.

Late on Tuesday, Haymes Paint released a statement on the passing of David Henry Haymes, aged 77, on June 15, 2021.

"David was a mentor and inspiration to all those he met, due to his authentic and personal interest he had in everyone," the statement read.

"He will be missed dearly by his wife Jenny, three children, Belinda, Matt and Tim, along with their families, and every member of the wider Haymes Paint family."

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"David was well known for his leadership of the Ballarat-based Haymes Paint business as well as his vision and unbridled passion for all Australian owned businesses and the Ballarat community.

"David's dedication to the Haymes Paint business for nearly 45 years has never wavered.

"While he stepped down from the day-to-day operations of the business in 2008, handing over to the next generation of the Haymes family, he remained a central part of the business in his role as Chairman of the Haymes Paint Board.

"David was committed to Australian owned businesses and manufacturing and was extremely proud to see Haymes Paint become the largest Australian made and owned paint manufacturer.

"Throughout his life, David played an active role within his local and the wider business communities through organisations including APEX, Australian Chamber of Manufacturers (AIG), Australian Paint Manufacturer's Federation, Family Business Australia, Federation University, among many others."

Mr Haymes, an old Collegian, also played an active role in his former school.

He was awarded an Honorary Doctorate of Business from the University of Ballarat for "his outstanding service to business and the community" where he served as chairman of the University of Ballarat School of Business advisory board and an executive member of the Committee for Ballarat

He was a member of the community advisory board for The Courier, chairman of the Board of Family Business Australia and a council member of the Australian Paint Manufacturers Federation.

"Deepest sympathy to the Jenny and the family. A pleasure to have worked for David and be part of the Haymes story. A remarkable man and a great Ballarat ambassador. We have lost a visionary and a wonderful leader." - KEVIN MCALOON, BALLARAT

"David was an inspirational leader. When I was younger I used to love hearing him speak at public events . When you left you always felt inspired to do more for our community. Later on when setting up the Committee For Ballarat I loved using David as a sounding board and a moral compass . His contribution to our great city is far reaching and something his family should be incredibly proud of . My sincere condolences to Jenny and the family."- NOEL COXALL, BALLARAT

"Sincere condolences to the Haymes family on the sudden passing of David. He was a lovely man who will be greatly missed by his family and community." - NADINE GASS, SMYTHESDALE

"David Haymes was a champion of the manufacturing sector. He was passionate about the industry and its people. He gave freely of his time to share his passion for the industry and Ballarat. During my time with the Australian Industry Group, David gave me lots of sound advice and we worked on many projects together, including Manufacturing Week. He will be sadly missed by all who had the pleasure to work with him. Condolences to his wife Jenny and family." - KAY MACAULAY, BALLARAT