New Delhi: Shrikant Madhav Vaidya has taken over as the new chairman of Indian Oil Corporation Ltd. (IOCL), here on Wednesday.
Prior to his elevation, Vaidya was the Director (Refineries) on the IndianOil Board, since October 2019. He succeeds Sanjiv Singh who has superannuated from the services of the Corporation yesterday.
Concurrently, he will also be chairman of Chennai Petroleum Corporation Ltd., a stand-alone refining subsidiary of IndianOil and Indian Oiltanking Limited, another joint venture providing ‘terminalling’ services apart from being on the board of Hindustan Urvarak & Rasayan Ltd., a joint venture setting up three world-scale fertiliser plants.
Vaidya who is on the board of Ratnagiri Refinery & Petrochemicals Ltd. will be taking over as its chairman and will also be Director on the Board of M/s Petronet LNG Limited.
A Chemical Engineer from the National Institute of Technology, Rourkela, Vaidya has over 34 years of extensive experience in refining & petrochemicals operations. He has had a decade-long association with India’s largest cracker plant – the Panipat Naphtha Cracker Complex, a major driver of IndianOil’s petrochemicals business – right from the drawing board stage. He is among the select technocrats in the Indian oil & gas industry who are proficient in all facets of refinery-petrochemicals integration, desirable for the sustainability of the oil & gas industry in the long-term.
With proven technological prowess, future-ready business acumen and people-centric leadership style, Vaidya nurtures a strong vision of leveraging technology and innovative, sustainable fuel solutions for the Corporation’s growth as an integrated energy major.