New Delhi, Sep 1 (IANS) Indian Oil Corporation (IOCL) Director Marketing V. Sathish Kumar on Sunday took additional charge as the company’s chairman. He replaced SM Vaidya, who resigned on Saturday.
The company said on Sunday that Satish Kumar will take over the responsibility of Chairman while holding the post of Director (Marketing). He has been in this position since October 2022. He had earlier also held the additional charge of Director (Finance) for one year from October 2022.
SM Vaidya, who became the chairman of IOCL in July 2020. During the tenure of Vaidya, the net profit of the company increased from Rs 1,313 crore in the financial year 2019-20 to Rs 39,619 crore in 2023-24.
Satish Kumar has held many important positions in his 35-year career. He has also been the non-executive chairman of Indian Oil Petronas, a joint venture company between Indian Oil and Malaysia’s Petronas. He has also served as the non-executive chairman of Indian Oil Mauritius.
Satish Kumar, a mechanical engineer, has done post graduation in management from the University of Ljubljana, Slovenia. Before being appointed as Director (Marketing), he has served as the state head of Indian Oil in Madhya Pradesh and Chhattisgarh.
–IANS
AKJ/ABM
