V. Satish Kumar takes additional charge as IOCL chairman

New Delhi: V. Satish Kumar, director (marketing) of Indian Oil Corp. Ltd (IOCL), on Sunday took additional charge as chairman, after Shrikant Madhav Vaidya completed his tenure as chairman of the state-run oil company.

Kumar has been director (marketing) since October 2021. A company statement noted that he also held additional charge of director (finance) for a year from October 2022, a period characterized by geopolitical tensions due to the Ukraine war.

With a career spanning 35 years, Kumar has served in various regions across the country and held key positions. He has also gained extensive experience in engaging with multinational oil companies, serving as non-executive chairman of Indian Oil Petronas Pvt. Ltd, a joint venture between IndianOil and Petronas (Malaysia), and as non-executive chairman of Indian Oil Mauritius Ltd, a subsidiary of IndianOil.

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A statement said the marketing division under his leadership has registered the best “physical performance” year-after-year over the last three years. "In his tenure, IndianOil embarked upon large scale modernization of its retail outlets with new retail visual identity and setting up of new bottling plants, terminals and large retail outlets with wayside amenities on highways," it said.

During this period, IndianOil emerged as leader in sales of high octane and energy efficient fuels, green combo lubricants, composite LPG cylinders and 25 Kg bitumen packs in the market for making products affordable and customer conveniences.

He has led marketing division in making aggressive forays and taken leadership positions in marketing alternate and clean energy solutions like e-mobility, biofuel blends.

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A mechanical engineer, Kumar is also has a postgraduate degree in management from the University of Ljubljana, Slovenia.

Prior to his appointment as director (marketing), he has held the position of state head for the states of Madhya Pradesh and Chhattisgarh. As state head, he played a pivotal role in implementing key business initiatives such as the direct benefit transfer for LPG consumers under the Pradhan Mantri Ujjwala Yojana (PMUY), the statement said